Riding The Roller Coaster

Today, the major indexes meandered sideways with an upward bias; however, they closed higher recouping some of yesterday’s losses.

Our Trend Tracking Indexes (TTIs) recovered as well and the domestic TTI broke out of its neutral zone (+1.50%) and currently sits +1.58% above its long-term trend line. Yes, I feel like I sound like a broken record when repeating again that we need to see this level supported for a couple for trading days before making new commitments to the domestic arena.

After today’s close, the world’s largest insurance company laid an “AIG” by reporting that it suffered a $7.81 billion first-quarter loss, its second big loss in a row. While this should pressure the markets tomorrow, you never know these days, as some might interpret this as the worst being over and good times are here again.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
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