After the oversold stock market rebounded (about 12% from the recent lows!), our indicators have changed a bit since our last stock update on 9/27/11, when the S&P was at 1145. Currently, the S&P is at 1195.
- Our long-term model is still bearish, but gives only a "slightly bearish" signal.
- Our intermediate-term (overbought) model has changed from neutral to "slightly bearish."
- Our short-term indicators are dependent on shorter-term market action, but are currently bearish.
Traders may be interested in the short-side of the stock market, but note that the indicators are just slightly bearish. However, they are bearishly aligned. Long-term investors may want to wait and add to positions on weakness.