Simple S&P 500 monthly timing indicator for 401K / IRA investors

If you are a 401K or IRA investor, this simple monthly timing indicator for the S&P 500 will help you determine when to re-balance your investment portfolio to be offensive (overweight stocks/index funds/ETFs) or defensive (overweight bonds/cash).  When the S&P 500 (black line) is above its 10-month moving average (pink line, simple moving average or otherwise) the market is bullish and your portfolio should overweight stocks.  If the S&P500 is below its 10-month moving average, overweight bonds/cash.  How much to overweight should be based on your risk profile and time horizon.  More on this later...