Les Masonson book was very interesting.   Fortunately he posts the results of his analysis on his blog which is most fortunate for us.  Check it out here http://www.buydonthold.com/author/Les/ .  As of January 13, 2012 his Dashboard indicator is at +3 which is in the buy range.

Mr. Masonson made the following comment in his blog "With a continued Dashboard reading of “3”and with all major averages above their respective 200-dmas, we may finally be in an up trending market. However, news from the euro-zone or unexpected bad domestic economic news can stall this current rally at any time."

Partly based on this suggestion I moved about 6% of our 401k funds back into the market.  Honestly, I just can't stand not participating in the upward movements of the markets.

Mr. Masonson uses the abbreviation 200-dmas.  He is referring to the 200 day moving averages.