S&P 500 Update for June 29, 2010

You better get that magnifying glass out to see if the 13-week EMA is above to penetrate the 34-week EMA.  Today, I was stopped out of my remaining 40% position in SPY at $104.24, which was my average cost.  Therefore, my investment portfolio is now 100% in cash. 

Where do we go from here?  My response is based on what the market is currently telling me.  It is saying that the majority of indexes are either currently in the latter Stage 3 (Distribution Phase) or early Stage 4 (Declining Phase).  This analysis is based on Point & Figure Charts of the various market indexes.