Friday, November 30, 2012

S&P 500 close 11/30

Very uneventful day. The market was completely listless today oscillating in a 6 point trading range. In the short term the up side looks more vulnerable even though we maintained above 1410. There is no conviction in the market so I am still yellow on the market and currently in cash 100%. Long term metrics are improving but still skeptical since the overall weight of the long term market technicals are still slightly bearish. Perfect time to stay on the fence until we figure this out...

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