Mixed Signals (Stock Market)

Interestingly, we have mixed signals from our intermediate-term and long-term stock market indicators. Our long-term model moved to flat from a long position for the first time since last July, based in today's decline. Upcoming market action will determine if the model goes short on the stock market.

Our intermediate overbought / oversold models feel the market is well oversold and moved from a flat position to a fully long position. In total, this leaves us still slightly bullish, but we will be watching the long-term model closely, as a 'look-ahead" indicates that unless we see some strength within a week or so, the long-term model will go short.

Enjoy the July 4th weekend.