S&P 500 Weekly Update for July 30, 2010

The EMA investment strategy continues to signal a bearish trend is in place.  Why?  The 13-week EMA < 34-week EMA.  For the "Bears," the next 7 trading days (August 2-10) will be watched very closely.  As of now, my portfolio is 27% bearish and 73% in cash (Money Market Funds).  Per my last post, I am watching UUP very closely and will use this investment vehicle as a substitute for part of my cash holdings when its 3-day EMA > 10-day EMA.