6/23/2008 7:28:43 AM
Is it over?
Welcome to Lynn T's 1-2-3 PLUS Alert. To learn more about my Partial Leverage Utilization System, click here.
We are in the midst of a downtrend that may have baked this market to the point of rising. While there may still be some downward momentum, we are more likely to see a move higher on a bounce this week. Will it be a good bounce that pushes us back into a bullish position? That is a strong likelihood.
Looking at the weekly chart, it is around this approximate price level that we have seen the market test a few times now before either consolidating or moving higher. There is a good chance we'll see one of those happening.
Let's see what the indicators say on Wednesday and we may be positioning in a bullish way or staying in cash.
Remain in Full Cash (see new weighting below).
Current Weighting Suggestion:
3/3 in CASH mode
You can email me with any questions at firstname.lastname@example.org.
Have a great week!