July 21, 2010 Market Recap

Once again, all three markets bounced off the down trendline. When the whole market is going down it is not a good time to be in the market. Also notice the 150 and 200 day moving averages are getting closer and closer together. The 150 trendline has not started to turn downward as well for all 3 of the indices. We will want to see a cross of the trendline as well as a cross of the 150 and 200 day moving average before getting back in. Will continue to monitor.