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Market Tracker, 5-15

|Includes: DIA, IWM, Life Partners Holdings Inc (LPHI), ONEQ, SPY, UPRO

      The market seems to be in a state of confusion lately. In my last post I listed off the fundamental catalysts for what could be a bigger, longer term correction. Historically, this kind of things always seems to start in September and continue into October. That leaves around three months for something else to happen. In 2007 the market formed a double top before beginning a down trend. That may happen again this time around. At the moment, the market seems very choppy. Just in this two weeks the market tanked, then popped back, then started sliding again. Until I get a definitive signal, I'm staying in cash. It is important to remember that around 1/3 of the time, the market isn't trending. If the market isn't trending and you trade like it is trending, you can gnaw away at your portfolio as the market stays flat. If the market goes back to support at SPX=1110 or really looks bullish tomorrow I might enter long, but otherwise I'll wait.

Disclosure: None