As of tonight the 2cs has dropped to 88, rounded. It hasn't been that low since two days after the high (close) of SPX in May 2008. You may recall that SPX hit the 400 dma on the very day of the high on May 19 2008 at 1425.35 (close). Today the 400 dma is @ 1059.90. I sure would like to see a couple of days up to put the 2cs under 80..it was 72.31 on May 19 2008. Four days before that it had been 89.14.
I'd like to see a Dow clx indicator confirmation, but it's possible we had it last week. It was a week early in May 2008.
I did not get bullish immediately in early March 2009. I'm investing in retirement, so I'm not a rabid high risk trader as I once was. But I started getting long in equity substitutes like corporate bonds and beaten-down closed-end funds in April and May, and I'm up 12.6% on the year to date which is nearly double my goal.
Despite all that, the 2CS has kept me long through all the uncertainty since March/April. It's possible we will slow down here again and extend the timing out further. I am certainly not hoping for negatives. But we are set up for a possible sell if the market gains more this week. On any real strength this week I am going to be selling the parts of accounts that are most likely to be influenced by an equity decline.