Our intermediate stock market indicators have turned neutral after a bullish reading -- last signaled on May 11, 2011 when the S&P stood at 1338. At the time of this signal, the S&P stands at 1282. The market bounced back yesterday after being much lower for much of the day (and after having some rough periods). The overbought system "took the opportunity" to go neutral.
Our long-term stock market indicators remain bullish -- although they are "medium" bullish and are not flashing the "strongly bullish" signal that they have had for a while.