Monday, January 7, 2013
S&P 500 close 1/7
I think I maybe losing my window to buy. The S&P 500 retreated early today by 9 points before rallying into the close and finishing at 1461. We have consolidated a little at these levels and I give it one more day before I throw in the towel for a value buy. Long term and short momentum indicators are now both gaining bullish momentum and we have crossed into bull territory on the long term indicator. I will watch the open very carefully tomorrow and perhaps make a decision.