We exited most of our equity positions a few weeks ago after the weekly DeMark 9 indicator. (We still maintain some positions in our Long-Term Conservative Growth Portfolio.) That doesn’t always work and many times just marks a waypoint in an intermediate term trend. Indeed, markets rose just after this indicator reading but are now slightly below this level. Where we go from here may be determined by unemployment data being released tomorrow. This market can snap back higher in a heartbeat—that’s just the environment we’re in, especially now that we’re short-term oversold.
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It just seems too pat that October is starting off in this well-predicted bearish manner. That’s just the way of things now. I expect more fireworks tomorrow.
We spent the day awaiting Comcast and Directv hook-ups. Not a lot of fun.
Let’s see what happens and we’ll be on twitter if you’re interested.
Disclaimer: Among other issues the ETF Digest maintains positions in: VTI, XLB, XLF, IEF, TLT, DBC, UDN, GLD, DBC, EFA, EEM and EWC.
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