Rising oil prices and interest rates, a falling dollar and a record decline in home prices couldn’t keep the market down yesterday.
The upward bias came in form of a surprisingly strong consumer confidence report that helped the bulls forget quickly that the past 4 trading days were losers.
Since our International Buy signal on May 11, 2009, our fund selections have now gained 3.30% and our hedge positions improved today as well.
Our Trend Tracking Indexes (TTIs) are now positioned as follows:
Domestic TTI: -0.59%
International TTI: +5.94%
Hedge TTI: +0.73%
Our domestic TTI has now again moved to close proximity of breaking its long-term trend line to the upside. As I said before, to minimize any whipsaw signals, I want to see a clear break above the line after it has been recalculated, which happens every Friday.
We’ve been close over the past few weeks, but the markets backed off every time we put our hands on the trigger. Stay tuned to any changes; I will keep you informed via an update blog post.