Just a bit of digestion. 

The indices took a breather after four solid up days in a row.  It may take another day or two but the rally should continue.  The S&P 500 has now broken above two trend lines that should have acted as resistance.  The next stop could be 1130 - 1135.

                             Chart provided courtesy of  www.decisionpoint.com
 

Isn't it interesting that the AAII investor sentiment survey bearish reading hit 40% just as we bottomed out (assuming we have)?  I talked about that magic number and now I wish I was patient enough to wait for that level of bearishness to materialize before I got fully invested.  It is back up to to 35% this week so any continued digestion should push us back near 40%.  The higher the better.

The I fund managed a modest gain in the face of the U.S. market weakness.  It was the weakness of the U.S. dollar that helped.  The dollar is still in a down trend so I will keep that 50% in the I fund for a while longer.

                         Chart provided courtesy of  www.decisionpoint.com   

That's all for today.  I am staying the course as I am still very bullish.  Currently 50% S, 50% I fund.  Have a good weekend.  Don't forget to ask questions and share your ideas on the message board.