The markets zigzagged yesterday, but ended up closing modestly higher thanks to support from industry heavyweights Boeing and Microsoft. Despite this higher close, participation was not widespread, which explains why our Trend Tracking Indexes (TTIs) retreated slightly.
The domestic TTI fell to a level of +1.37% above its long-term trend line, just below the upper range (+1.50%) of the neutral zone. We will hold off with any further commitments to the domestic market until a sustainable breakout occurs.
The International TTI slipped as well and is now positioned -3.82% below its own long-term trend line, which has kept us out of this market since 11/31/07.
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