Our long-term stock market models remain long. The market will continue to be volatile -- as debt talks continue, the potential for credit downgrades "cast a shadow," and as the economy struggles to emerge from the recession.
Friday, July 29, 2011
Oversold Indicators turn Bullish 7/29/11
Our overbought/oversold indicators are turning bullish at current S&P levels. The S&P currently stands at about 1296. Our intermediate-term overbought/oversold indicators last triggered a "neutral" signal on June 24th, when the S&P was at 1282. The market has been very volatile, with spikes in both directions -- based on news related to "debt talks" as well as the economy.