While many 200-day index lines held this week for several market indexes, longer-term momentum still appears to be to the downside. That's pretty much the case with stock markets around the world it seems.
Rails and metals are dropping, and they were our leaders in the first quarter of the year. No real industry is standing out as a leader now! The trouble is that investors don't know where to put their money now. Real estate has topped too!
It would be prudent to look for any 3 day runs to exit stock positions and wait out the market for better days since there is just too much skepticism abound. At least wait until we see some improvement and positive news from the FED. When the markets get rediculously oversold, then leg back in.
