July 19, 2010

Markets stayed within narrow pivots on low volume.

Short-term: 3 yellow, 1 red – tending yellow
Intermediate-term: 2 yellow, 2 red – tending yellow
Stock targets: 14% swimming, 25% neutral, 61% sinking

Improvement in number of stock targets out there — partially due to technical timing/lag — ie the 50 day averages no longer include April highs. Improving stocks are mostly defensive — which ain’t exactly a sign of great things to come for the market overall. But hey – you take whatever crumbs you can.


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