The market has clearly changed its tone in the short-term, and I have gone ahead and updated the SharePlanner Market Barometer to show as much. For now the rating for the near-term is bearish, while the mid and long-term indicators still indicate a bullish market. With that said, I’ve changed also, the overall rating of the markets for all four major indices to Neutral. For the bulls, it doesn’t mean that you throw in the towel just yet, but I would be tightening those stop-losses, and as for bears, I would definitely start testing the waters some if you haven’t already done so yet, and start getting prepared for what could be a very profitable counter-trend.

Here’s the Market Barometer…

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