Current Market Trend

The last couple of days have certainly shown some blood letting in all the major indexes. While these types of days can motivate traders to jump in to short positions I will wait until my trend indicators confirm a new down trend. As you can see from the charts below both the long term and medium term trends are still up for the S&P 500. With the exception of one short position in GS I am still looking for long opportunities.

Long Term Trend: Market is above the blue line.



Medium Term Trend: Blue line is above the green line.