Monday, May 21, 2012

Stock Market Oversold 5/21/12

With the stock market's drop from around 1400 at the beginning of May to the current levels around 1308, our oversold models are now bullish.  That decline represents a drop of some -7%.   What do our trading models say now?

  • Our intermediate-term oversold models are now strongly bullish.  Traders may want to trade a potential bounce upwards.
  • Our long-term models remain bullish -- but are slightly cautious, wary of potential downdrafts.

Our last stock market signal update was on May 2, 2012, when the S&P stood at 1406.  The S&P is at 1308 at the time of writing this.  

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