4 reasons to be in cash

That picture haunts me, but the one that tells me not to use my last IFT to sell is this one...

071210f.gif



That said, if we don't see a bounce off of the 20-day EMA (1075) on the S&P, I will wave the white flag.
 
That's a pretty chart, do you know how far back that 1.18 level goes?
 
Looks like 1999, surprisingly. You would have thought we would have seen those levels during the 2000-2002 bear market.

071510a.gif
 
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