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February 22, 2010 Indecision in all markets



Good Evening!

        Today was an interesting day in the markets as Equities, Gold, Oil, and the USD all were slightly down.  This signals indecision.  The S&P500 ended below the large diagonal trendline again today with an indecisive black spinning top candle.  If you look at the chart above you can see that in the past the index had consolidated and oscillated between the zones 1083/1087 - 1012/1015 for an entire month prior to breaking up in December.   We will continue to monitor for sell signals generated by our code in order to confirm any reversals of momentum.  The weekly buy/long signal is still intact, so we would expect the market to move sideways in a tight range for a few days until indecision is resolved and new signals on the daily charts are generated.

Regards,
AW



Disclosure: SPX.X ^GSPC

Disclosure: Short M HD WEN PG PHM GENZ, Long SPN WM EXPD MOLX DPL UTIW