The markets retreated yesterday as the dollar’s record new low against the Euro, along with soft earnings and oil prices hugging the $120/barrel mark, proved too much resistance. The bears prevailed and sent the major indexes lower, although a rebound late in the session cut down on the losses.
Our domestic Trend Tracking Index (TTI) came off its high, and dropped below the +1.50% threshold to +1.48%. This means we’re back in the neutral zone and will have to wait for another breakout with legs before making any commitments to that market.
The International TTI retreated as well and is currently positioned -3.32% below its own long-term trend line. The bottom line is that there have been no changes to our investment positions.
If the domestic TTI continues to vacillate around its buy level, I will post updates as necessary in this blog so that you can easily follow the changes in our investment strategy as they occur.