Uncomfortable, but Bullish

It would seem some pockets of bullishness need to be punished before this downward move ends. Hopefully we're just about there. Our own sentiment survey is 54% bearish right now. Here's the charts:



Still on sells here.



Two more sells.



Ditto.



BPCOMPQ remains the lone buy signal and really hasn't deteriorated much in spite of the recent selling pressure.

So we have 6 of 7 signals flashing sells, but the system remains on a buy.

I am 100% S fund and holding tight.

See you tomorrow.

 

[WorkFE]

Although I am down on the tracker June has actually been somewhat good to me. Less negative than I was at the end of May and I have been 100% in all month. Of course the month is not over either.

 

[CrabClaw]

this latest run is turning into punishment for me

 

[crws]

I hate to be a downer, but things are looking ST bleak to me I'm afraid.
Financial Reg
G20 Summit
Employment #'s
All on deck....

-Below was a positive sounding story until the last few paragraphs...
To me the bottom line was- On Wednesday Uncle Ben was trying to let us down softly for some upcoming not-so-good (i.e. bad) news.

Companies ramp up spending, fuel economic growth
Businesses ramped up spending on big-ticket goods in 3 of the past 4 months, boosting recovery
(what could be wrong with a story after a headline like that- Right?)
http://finance.yahoo.com/news/Companies-ramp-up-spending-apf-3773808112.html?x=0
(ending paragraphs)
The reports come amid mixed news on the health of the economic recovery.
New home sales tumbled in May after government incentives for homebuyers expired in April,
and the Federal Reserve issued a more cautious economic outlook Wednesday.

Employment is likely to remain sluggish. Economists at Deutsche Bank forecast that the June jobs report, due next week,
will show employers cut 150,000 jobs after five months of gains.
Those losses will reflect layoffs of temporary census workers.

Private companies are expected to add 100,000 jobs, but gains at that pace aren't sufficient to reduce the unemployment rate.

The total number of people receiving benefits, meanwhile, dropped 45,000 to 4.5 million, the department said.
But that doesn't include about 5.3 million people who received extended benefits paid for by the federal government in the week ended June 5, the latest data available.

During the recession, Congress added up to 73 weeks of extra benefits on top of the 26 weeks typically provided by states.

But those extensions expired earlier this month, leaving about 900,000 people without unemployment insurance, according to the Labor Department.

That figure is expected to grow to 1.25 million by the end of this week.

Yikes!! :blink::blink:

Ok, well, on a brighter note, it is payday week and the sun arrived!