*** PREDICTION for the Next Trading Day:
For Friday we say: "There is some weakening, although the Market Timing Indicator (MTI) remains above the 1.0 neutral value (it is now at 1.0381), but the majority of our BUY signals remain intact. The market is likely to falter a bit on Friday, but it should show stability and at least hold near current valuations ... if it doesn't manage to move modestly higher. We have a BLUE (relatively safe) Market Color Code."

*** Scoring of Previous PREDICTION:
For Thursday we had said: "The Market Timing Indicator (MTI) has spiked to 1.7062, well above the 1.0 neutral value. This not only gives us a GREEN ('safe') Market Color Code, but it has caused our mutual fund long-term signal (MFTI-A) to revert to the BUY state (it had gone to a SELL/SHORT at the end of March). We believe that the market will do well on Thursday, and that the market will likely resume its upward course after the recent choppy period. We shall see..."

How did we do? The Forecast for Thursday was quite good. Now, whether we were right or not about a renewal of the uptrend, it is too early to tell...
*** Note 1: The MTI can range from about -2.5 to +2.5, with a 'neutral' value of 1.0. A value of 1.0 will generally be associated with a market that is either stable (holding its valuations) or rising slowly and erratically. Values greater than 1.0 signify a 'long' market, while values substantially below 1.0 (and especially zero or negative) signify shorting situations. Although the MTI is extremely useful (especially in the construction of equity-specific models), bear in mind that it has a reaction time of several days. It is thus not sufficient to use this indicator alone for trading specific equities on a day-by-day basis.
Schulenberg 2X-Hedged IWM (^IWM2)