Average is on a Buy Signal below the Bearish Resistance Line. These are in Bear Markets. It is well below the Bearish Resistance Line. and has been showing lower tops and bottoms since March 2000. It is well below its 200 day moving average, currently around 2360. We continue to be Long Term Bullish and Short Term Bearish, but waiting to Buy .
Average stocks continue to hold up well.
Ten weeks ago, it was at its highest level since July 1999. It is also on a Sell Signal. Ten weeks ago it was its Highest reading since July October 1997. Advisor Bearishness is Strongly Biased to the Buy Side by the expectation that the Feds Rate Cuts will turn the economy and the market around. People are also Bullish based on the expected tax cut and Tax Rebate.