Hi Sarah - at what level of S do you see us returning to the bull phase. We now have new highs in C and the Dow. Thoughts on timing and progression of this market?
Under Dow Theory, the market is still bearish as both the industrials and transports must be bullish for a bull market. We're not there yet.
The S fund is also still technically bearish, long term.
The C fund IS bullish but given the lack of confirmation from the other indices, I would prefer to wait.
Normally, when equities are bullish, gold and bonds are bearish. However, both are bullish at this point.
So, IMHO, we continue to receive mixed signals.
As I said earlier, I'd like to see how the markets get thru the seasonal bear months of Aug, Sept and Oct
Posted by: sarah_oz@yahoo.com
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