Continued volatility had the bulls and bears in a tug-of-war all day. Rallies, as well as pullbacks could not be sustained and we ended up essentially unchanged. I believe that this kind of uncertainty will stay with us into next week when the Federal Reserve meets to decide if any changes in interest rates are warranted.
Our Trend Tracking Indexes (TTIs) meandered as well and are hugging their respective trend lines as follows:
Domestic TTI: +3.05%
International TTI: -0.06%
Given the current up and down in the market place, I won’t read much into the fact that the international TTI just slipped below its trend line. As I previously said, my exit point for my international positions will be a 7% trailing stop loss. Surprisingly, they closed up for the day. Go figure.
Contact Ulli