Over the past week, most of my core market health indicators rose dramatically. It appears that market internals are preparing for a move higher. As I mentioned last week, it looks like the current dip is merely rotation before a move to all time highs rather than the making of a long term top.
The measures of market quality and strength moved into positive territory this week. That changes the core portfolio allocations as follows:
Long / Short hedged portfolio: 90% long high beta stocks and 10% short the S&P 500 Index (or use the ETF with symbol ProShares Short S&P500 (NYSE:SH))
Long / Cash portfolio: 80% long and 20% short
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