This is one of our models that we post weekly instead of daily on our paid
website. Its purpose is to focus more on medium term trends rather than
trading. Since the old adage of "don't fight the trend" has been and still
is good advice, we will look at what this trend model is showing for the S&P
500 today.
According to this model, the trend changed to a down trend on May 4th.
Right now, the Up/Down Trending indicator is sitting on the dotted horizontal
line. That line is critical, because a drop below it would intensify the
power the Bears have in the market.
Until this high-risk condition is resolved, this is no time to be a "bottom
fisher" or bargain hunter. Preservation of capital is still a smart strategy
and that means avoiding high-risk situations.
Marty Chenard is an Advanced Stock Market Technical Analyst that has developed
his own proprietary analytical tools and stock market models. As a result,
he was out of the market two weeks before the 1987 Crash in the most recent
Bear Market he faxed his Members in March 2000 telling them all to SELL. He
is an advanced technical analyst and not an investment advisor, nor a securities
broker.
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