11-2-2010 Market Indicator Status Update

Both Major Market Timing indicator #1 and #2 remain on “DOWN”.

Can you Re-issue a new “DOWN” indicator if one occurs (given that current MM market timing indicators are “DOWN”) already?  I have long positions I’d like to exit.

Yes, I will re-issue a “DOWN” indicator if a new one occurs.

We typically see a “holiday rally” every year from late November to December, so any new “DOWN” indicator here probably won’t result in a deep correction (at least until December end) – because of this “calendar influence” my system filters out weaker “DOWN” signals. 

The market is having trouble breaking S&P 500 1200 level.  Wall Street appears to be waiting to see if the election results in a new rally that breaks 1200 – if this doesn’t occur this week we’ll probably see some type of downward move.