I’m still at the spa enjoying the recent market insanity. It’s days like these where I’m reminded how awesome my S&P500 Timing model is (members get my weekly report). I’m glad I took its advice and sold my major holdings in mid December (and October) and moved my money into more defensive assets like bonds and cash.
Still though, the timing model actually issued a BUY signal today (see image), so it looks like we might have formed an interim bottom. I’m debating making a small buy here but I haven’t made up my mind, I sometimes don’t act on all the BUY signals the model gives me but I religiously follow its SELL signals.
Who knows which way the market will go but if it breaks down from here you can bet that 1250 will be the S&P500′s next stop.