Yesterday’s market activity had little influence on our Trend Tracking Indexes (TTIs). Disappointing housing data were too much to overcome and the Dow slipped some 57 points.
The Trend Tracking Indexes (TTIs) are now situated relative to their long term trend lines as follows:
Domestic TTI: +2.64%
International TTI: +1.00%
Even though the international TTI remains slightly above its long-term trend line, I will hold off making any commitments in that area most likely until after Labor Day. Wall Street’s big guns will be returning then, and we should (hopefully) be getting a better idea as to the direction of the trend.
With the markets opening sharply lower today, I will report again tomorrow as to any effects on our trading plans.Contact Ulli