It has been a month of waiting and watching since I posted a “Touch Down” on the S&P in January. Guess what? We are still around the same levels. We haven’t really gone anywhere. Could this be the bottom? According to Mark Arbeter of S&P500, we are close to the market bottom, given that the Investor’s Intelligence ratio has never gone so low and has never seen such bearishness since 2002. Investor’s have simply capitulated. What investor did not believe that we were in a recession? Mark said that now we simply have to wait for institutional money to flow in to give confirmation to all this information.

I, myself, took a break; however, I did not sell although “all hope seemed lost!” Ahh ha! Those dividend paying ETFs kept my sanity going. Standard and Poors said that we have a month or two of solidification to go. This leaves us to really see some action at the end of April or May.