As blogger/followers are aware, we recently issued a bearish alert due to pullbacks in the market. However, the bearish alert was short lived and a more recent alert was issued advising that we are currently in a bullish posture. The market is very dynamic and in some instances a whipsaw may occur. What is most important is to not try to predict what the market may do, but rather to adhere to and follow the signals provided by our proprietary indicator.
The current bullish posture seems to be prompted by positive economic data both in the United States and abroad as well as positive earnings data.
Reports this week include: Personal income (4/29), FOMC rate decision (05/01), initial claims (05/02) and unemployment rate (05/03).
$tockMarketDirection is in a Bullish Posture. We strongly encourage our many bloggers/followers to monitor positions closely, exercise proper money management strategies and to monitor $tockMarketDirection for ALERTS that we may issue advising of a change in our current bearish posture. Cha-ching.
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