After reaching for the medium (blue) moving average a couple of sessions ago, the cash SP500 has bounced just a tad to remain in contact with the short (red) moving average. This firming of prices occurred after the failure to qualify the break below the short moving average. Over the next few days I will continue to watch how price interacts with the moving averages and, if we rally, whether a sequential countdown completes.
Bottom Line: The allocation mix meter remains at +100%.
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