Thursday, April 26, 2012

RISK-ON...we are close


It appears risk-on is coming back in vogue and the correction may (I say MAY) have been avoided. The S&P is again over its 50day moving average, as is the Dow Jones. The only laggard is small caps IWM, and this is arguably the most important component to get back over its 50day to confirm the risk-on trade.  IWM bounced very nicely off its 100day moving average, now it needs to prove itself.

This is an important pivot point for the equity market...STAY TUNED!

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