Our stock systems are now long, with some of the air let our of the recent rise in the stock market. The stock market has seen a strong run since the depths of the financial crisis (2008/09) -- and also since the middle of 2011 and last summer. The market seems just a touch overbought, but our systems don't want to "fight the tape" any more on this short-to intermediate-term cycle. Although many are still struggling with this difficult economy, there are finally scattered signs of recovery.
Our last signal was on January 3,. 2013, when our overall stock signals went flat -- based on the intermediate-term overbought models going slightly bearish. At the time, the S&P stood at 1457, and with Friday's close at 1515.60, this signal was a slight loss. Currently, our models are:
Our last signal was on January 3,. 2013, when our overall stock signals went flat -- based on the intermediate-term overbought models going slightly bearish. At the time, the S&P stood at 1457, and with Friday's close at 1515.60, this signal was a slight loss. Currently, our models are:
- Long-term: bullish
- Intermediate-term: bullish
- Short-term: changeable, but currently bullish.
