Hold on to your cash until the markets prove they’re ready to rally

This morning’s strong futures and yesterday’s rally on a drop in oil futures prices probably are tempting some to jump back into stocks, but hold on to your cash.

With housing still in the dumps and unlikely to recover anytime soon and the auto, airline and retail industries hurting, it still isn’t clear that we are averting a recession.

Take a look at the charts posted by David Fry at ETF Digest. Read the annotations, and you’ll see how a pro uses both fundamental and technical analysis to track the money, equity and commodity markets.

There is a lot of skepticism in his comments, which I share.

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