The CMG NDR Large Cap Momentum Index remains in a sell (June 30, 2015 at S&P 500 Index level 2063). Two weeks ago, NDR’s Big Mo indicator moved to a sell signal and last week moved back to a buy signal.
I favor the CMG NDR Large Cap Momentum Index signal. Overall trend evidence remains negative for equities.
Sentiment remains pessimistic which is short-term bullish for the market. I share some thoughts on the S&P 500 Index (resistance levels – technical challenges) below.
The Zweig Bond Model remains bullish on high quality bonds.
I remain in the hedge/sell the rallies camp. The market remains overvalued, the Fed wants to raise rates, global growth is slowing and a probable recession is near. This would all be less of an issue if the market was attractively priced. It is not. See “Valuations, Forward Returns and Recession”.
Cyclical Equity Market Trend: The Primary Trend Is Bearish for Stock
CMG NDR Large Cap Momentum Index – Sell Signal (June 30, 2015 at S&P 500 Index 2063.11)