I remain short/sell on the overall market (NYSEARCA:SPY). This is based upon clear sell signals generated on 3/8/2013 from my primary oscillators (Bollinger band and RSI).
As mentioned previously and at that point, the trend could continue to increase by 1.78%, on average based upon my data going back five years. It has reached that level after closing at the high of 158.7 (SPY) last Thursday, 4/11/2013.
I am now anticipating a correction of approximately 4% to 9%, especially after this current earnings season. My goal is to begin buying aggressively between the Bollinger band low and 200 day moving average, 152.8 (SPY) and 144.9 respectively, as a means of rebuilding back to 25%-28% of my overall portfolio in equities. RSI, however, must be below 30 to initiate any purchasing and supported by the MACD indicator.
Again, I have placed stops on most of my current positions to protect and guarantee my profits from my purchases two weeks ago, when the market dipped 1%.