The gap-up this morning of 400+ Dow points, as impressive as it may seem, only takes the market up to the most recent short-term highs of November 8-9. As the chart below illustrates, when seen in context and notwithstanding today's G20 rally, the larger downtrend remains in tact. On Friday we added some price momentum thresholds before trades could be entered and they are already proving their value as none of those new Premium, nor Standard Sell signals have yet to be triggered. We will leave the price triggers in place until further notice. On the chance that a new uptrend is in the making, it will go well above those early Nov highs, and we could begin getting short-term Buy Signals as soon as later this week. For now, the major trend from the late September highs remains in charge.
