The rationale for jumping back from safety into stocks yesterday (July 31) was for a quick "one and out", hoping today would be a good, albeit short term bounce upward.
But the reason I'm concerned over the next 1-3 weeks, is the Dow Transports having a major correction (from Tom's evening post)
The S&P has been doing a slow roll-over, and either its going to ignore the Transports lead, OR there is just a lot of "irrational exuberance" still in the markets.
However, the open gap on the S&P near 2430 is something Tom Crowley has been talking about a lot as a potential fall-back target
Chart looks kind of "toppy".
So with all this, I am thinking about sliding back out today...call it a failed experiment if the S fund (where I'm in) finishes down today...although as I'm writing this its up a fraction.
Gotta log into TSP.gov and make a decision...5 min left.
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