Back To Even

Despite last week’s bounce in the market, we really have gone nowhere. The S&P; 500 started the month at 1,280 and closed at that number yesterday. Despite some sharp drops during the first couple of weeks in July, it’s questionable whether the subsequent rebound rally has legs, as economic circumstances have not changed.

Sure, lower crude oil prices helped matters, but who knows what’s around the corner. Financial institutions are still settled with bad debt and, until all skeletons have come out of the closet, there is no way to assess the total damage.

With the major trend having gone nowhere, here’s how our Trend Tracking Indexes (TTIs) currently stand:

Domestic TTI: -3.20%
International TTI: -7.56%

There are no changes to our investment positions and cash or hedged positions remain to be king.

About Ulli Niemann

Ulli Niemann is the publisher of "The ETF Bully" and is a Registered Investment Advisor. Learn more
This entry was posted in Uncategorized. Bookmark the permalink.

Comments are closed.