The Character of the Market Has Changed -Broadening Top Pattern

Blame it on the earthquake, tsunami and nuclear reactor fears in Japan but the character of the market has changed.

In my last post, I said it was too late to panic. Now it's about the right time to panic!/smile.

Seriously, I'm in capital preservation mode. The S&P 500 Index touching 1249 this hour meant the completion of a broadening top pattern. So, that means lower prices are ahead. I don't plan to stick around and find out how low the market can go.

The plan is to move 100% from the C Fund to the G Fund on Friday. We should see a bounce up to 1280ish on the S&P 500 Index by Friday. That is the last, best chance to sell for awhile.

Later,

Wink

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