Roll Over

As I reviewed my charts tonight, something struck me, leaving me with a big black eye. It was the stock market which plunged today from the near 1300 level to the 1277 level on the close. From a chart perspective, many of the supports that have been mentioned in the past have held. However, my trend model, which measure the best time to go long and short stocks, is turning over. This "roll over" and not in AT&T terms, is not good. Essentially it argues that the rally is over and the bear is about to reassert itself. While there are still three days to go in this week, which means that the chart could reverse back up if the markets find some footing to the upside, I am not on alert and holding off on any further purchases to my portfolio.

I will be back this week with my weekly piece on the equity markets. I figured I would share this potential "roll over" with you before then.