From time to time I get word from one of the money management programs we use that I think will give you some guidance if you are intent on managing your own money. Here’s what arrived today…

“After trading sideways for a majority of June, the markets rallied beginning in the last week of the quarter. After trading near 1268 on June 24, the S&P has traded up nearly 90 points as it approaches the recent highs of 1365 from the end of April. These market price movements, along with strong underlying participation as evidenced by steadily improving breadth data, caused our model to improve and eventually call for an allocation back into the equity markets. While many of our short and medium term indicators have turned on, our longer term indicators have not yet reached their signal lines, indicating there is a higher level of risk still inherent within this market. As such, profiles 2-4 have not yet reached the point of full equity allocation. Additionally, our pre-determined sell criteria remain at slightly tighter levels. If the market continues to rally, we are well positioned to participate in the performance. However, if this rally fizzles and we head lower, our sell criteria will trigger us to exit our positions.”