Our key tactical indicators continue to reinforce neutral view.  The recent volatility has caused our more sensitive indicators to jump back toward their recent optimistic levels, except for the II Bulls.  The percent of stocks above 10 & 50-dma and the CBOE Volatility Index (VIX) are in no-man’s land, while the slower indicators, the weekly stochastic remains in overbought territory.  Below are the levels we watch for to suggest a time to get more offensive vs. where they stand today:

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