Two Days is NOT a Trend

“One day in a row” - that’s an obviously stupid phrase that I unfortunately hear too often about the stock market. It’s often said that “one day does not make a trend” and since we finally managed to get two up days in a row, I think it’s worth saying that two days doesn’t cut it either. I have liked the action for the past 3 weeks but that’s another story. As I have written in the past few posts, I am becoming less pessimistic and yet, I hesitated to change many signals to UP this weekend. The Hedgefolios Timing Indicator is becoming more positive and that’s good, but there’s a lot of work that still needs to be done. Earnings season and guidance has been good ( not great,) and I am still optimistic that the Israel / Hezbollah conflict can end with a positive result for the markets (and the affected citizens.) However, I am reluctant to get entirely behind this move. Maybe if we get “one week in a row”, followed by another week in a row - just maybe I’ll be less skeptical.