My Intermediate Models continue to slide:
Nasdaq Model: -.27 (Mildly Bearish)
Nyse Model: -.33 (Moderately Bearish)
Current Equity Allocation: 30%L 70%C 0%S
Trend indicators continue to weaken, breadth is contracting from ultra-high overbought territory. On the positive side, T-Bond Momentum is still very favorable for stocks, the downward MO of the US dollar is begining to come back, AND the volatility indicators are settling down - if they continue to rise this week I'll score them as neutral.
My guess is the market is just catching it's breath before it sets sail to new highs, HOWEVER - I never, never (did I say "never"?) second-guess my models.