Our Long Term index shows we're getting to a pivotal point at the end of this month. The recent small rush upward is only about half of what was lost since December. That's not a Bullish mark, but a mediocre partial recovery. I'm not expecting much more upward movement.
If we get a green tint on this last candle in the coming weeks then it's back to Bulls. However, I expect more Bears for 2016 simply by looking at past movements. The past is very helpful because it shows behavior of investors and economic cycles in the easiest form.
I'll wait for this chart to tell me. This index and chart are awesome. It goes back 15 years and shows clearly the overall Bull and Bear markets. The DJIA doesn't give you the full story. This one does.
I'll make an update in a few weeks.
- Ed