The S&P 500 started near the highs of the day at 1510 and then retreated very slowly throughout the day to finish at 1501. I would not really classify this as sell off, just letting out a little steam. I made no purchases today even though the index that my investment tracks the Russell 2000 was down more significantly. The short term momentum indicator is now moving a little lower and the value metric now sits at 1489. It will be interesting to see if we hold 1500 tomorrow. If so we should reverse course and head higher pretty quickly. Long term momentum still strong.
We are moving to stockmarketandi.com at the end of the month. Only one day left!