The average of best fit scenarios (red line) remains negative going into year's end (week 32) and with the current uber overbought status of both SPY and QQQ we are looking for some measure of pullback before initiating any new at-the-money positions.
Tomorrow we'll look at the XLU Ponzo chart.. Our longer term portfolio has initiated an accumulation mode on XLU and there's some strong technical arguments to support that decision.
