Peeking Into Bear Market Territory

Today’s slightly lower close finally pushed our domestic Trend Tracking Index (TTI) below its long term trend line, although only by a fraction of a percentage. We slipped below the dividing line between bullish and bearish territory by a minuscule -0.06%.

That is not enough to declare a defeat of the bulls by the bears. As I posted this morning, I like to see a clear piercing (around 1%) followed by couple of trading days holding the level below the line. This will enhance our chances of avoiding an immediate whipsaw signal.

Once that has occurred, and tomorrow’s jobs report might get us there in a hurry, I will declare this buy cycle as being over. Stay tuned.

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.