Crude Oil on 6/7/13 - Popped up 1% and then another 1%

Today, crude oil was trading lower by about -1%, then bounced to about even -- and is now up almost +1%.  This is all within about 45 minutes -- and happened by about 10:15am EST.  These are 10-minute bars.




Chart: CMEgroup.com 

Stock Signals: Back on the Gas Pedal 6/6/13, 6AM

As of the close yesterday, our overbought/oversold indicators have flipped from a bearish to a bullish stance.    Our last signal change was on May 9, 2013, when our overbought indicators turned bearish.  At the time, the S&P was at 1627.  As of the close yesterday, the S&P stood at 1609.

For a while, this system's signal (and trade) was looking bad, with the S&P breaching the 1650 level, but some of the air has been let out of the bubble.  This model is now bullish.  Here is a rundown of the current technical trends in the U.S. stock markets:

• Long-term indicators are bullish
• Intermediate term overbought/oversold are bullish
• Short-Term currently bearish, but this changes in the short-term.  

Our tactical asset allocation models, which apply these approaches to various asset classes, have performed well.  

Past performance is not necessarily indicative of future performance.