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.  

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.  

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