Market Signal: Proceed with Caution

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Includes: DIA, QQQ, SPY
by: The Correct Call

The market appears to be stuck in neutral. Our momentum models are posting buy signals while our leadership models are reading sell.

According to our technical analysis, the charts paint a clearer picture. If we don’t make a move up right about now, we could have some selling pressure. As you will see on the chart below, all 3 of the major indexes are at the cusp of delivering a sell signal.

sp-500-12-29-2008.jpgClick to enlarge