I'm back to 100% cash in my account, but I'm not yet convinced that the next rally is underway. I'm still waiting for market indicators to align one way or another.
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Still believe the global equity markets are being manipulated by large institutions & central banks. The counter-trend rallies off from June 4th all stopped when key indices hit their 50 day Moving Average. S&P 500 resistance at 1367 (formerly 1360 was support) was not penetrated. Friday's volume on the NYSE @ 4pm close was ~ 0.8 billion shares, but was later reported as 1.52B shares. That implies 1/2 of volume was on market close orders, which are only used by large institutions
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