Market Catches Breath

Current position for Active portion of portfolio: SELL – S.T.A.Y. Plus™

Downtrend Still Intact

Although last week the market was slightly up, it’s looking probable that February 2nd marked an intermediate top.  This was the high point following the long-term trend breakout. However, since February 2nd we have had six weeks now of consistent lower lows and lower highs creating an intermediate term downtrend that has penetrated the long term downtrend to the downside.  Time will tell if it continues to accomplish this.  If so, this would make the breakout topping February 2nd a failed breakout of the long term trendline.  This should get confirmed within the next few weeks.

It remains clear that the market is still in a long-term downtrend and we will remain invested inverse to the market so that we can be gaining as the market goes down. We will continue to monitor our technical indicators and make investment changes if / when the market shows that it's ready to trend upward.

Weekly Chart of the Standard & Poors 500 Index (S&P 500 AKA "The Market"

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