The exchange traded funds Diamonds, Spiders and QQQ's remain positive but overbought, while transports has a negative chart and Russell 2000 shows declining weekly momentum.
Reduce holdings on global stock market strength, as the rise in momentum slows - The only new high occurred in India, while transports and small caps lag in the U.S.
The exchange traded funds Diamonds, Spiders and QQQ's remain positive but overbought, while transports and Russell 2000 now have negative weekly charts.
The five major U.S. equity averages bottomed on March 9, 2009, while the four global averages bottomed on or about the same date. Time to reduce holdings. Here's why.