current model indication: cautiously bullish on the S&P 500 since 2009-08-21
based on this chart, the data appears to indicate the S&P 500 bull run since the march lows has a little more milage upward. like a pendulum, the model has almost swung a full half cycle. however, there doesn't appear to be any signs the swing is slowing down much. the index will be entirely over-bought when the swing overshoots a value of ||vector-c|| = 0.7250.
dislosures: in my SH-SPY pairs trade, i am still 95% SPY & 5% SH. one half of my pairs trade is counter-weighted with holding bond ETFs listed in my tags. the remainder of my portfolio is in 15% cash.