This Week's Highlights
- Last week's rally was sufficient to warrant expectations of higher prices in the months ahead, but not sufficient enough to indicate a new bull was underway.
- Until we can identify such bullish conditions, we remain neutral with a tactical bias, adding to longs and covering shorts into weakness, and reducing longs and adding to shorts into strength.
- We are willing to continue with the former part of the strategy (add to longs, reduce shorts) until the S&P. . .