No change from last week. My systems are pointing up with the exception of my ICE system on SPY. Both of my regular systems are saying Up for Dow Jones 30 (ETF: DIA) and for the S&P 500 (ETF: SPY). My 401K monthly system is partially long biased. Summary – I have long positions that I am hedged on. Meaning I make money if the market goes up but modestly. If it goes down, I lose money but modestly. The markets are hoping for good news from Europe and wants to go up. But the underlying fundamentals are severe and holding it back.
I am also long in GLD (Gold ETF) and TLT (Long term Treasury bond fund) and entered a small put position on PBR (Oil) – all actions based on my technicals of course and not fundamentals.
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