The S&P 500 poked it’s head above the CBL buy line today which is the first part of a buy signal. Don’t go getting all excited yet, because the 50 day moving average still has to be broken before we get a true signal on the daily chart. The 50 day ma is currently at $1949 which means we are 8 points away. I like the sudden surge in prices, but I would still expect a retest from the sellers right about $1943 level, which is where it paused today. After the last two days, I’m basically even for the year with a –0.11% loss for the year.
Small Cap and International also made good moves the last two days but have not broken into any buy signal zones yet.
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