With equities not going anywhere and chances of a bear market increasing, I will adjust my posting schedule to better be in tune with the information you need. That means I will, for the time being, focus more on relevant market commentary, along with changes in our invested positions, which might help you to better see the big picture.
There is no sense in having you look at cutline reports when all you see are worsening momentum numbers and sliding M-Index rankings.
Last night, I reviewed the High Volume Cutline report and noticed that out of the 90 ETFs I track, only 5 of them were positioned above the cutline and therefore in bullish territory. However, all of them had worsening momentum numbers, which supports my opinion that, in the current environment, there is really no place to hide, and cash is a better option than a questionable ETF or mutual fund.
I will publish the cutline reports once they become relevant again.
Yesterday, our Domestic TTI (Trend Tracking Index) slipped below its trend line again, after having hovered above it for a few days as the markets rallied. It now sits -0.57% below it.
While that is not a clear piercing to the downside, I expect downward momentum to accelerate sharply should the Europeans not come up with a viable solution to their debt issues that can interpreted as ‘market pleasing.’