Per my plan I sold all my long positions early Friday morning. I believe chances are good that we see a sell off (5% to 10%) starting this week, maybe as early as tomorrow for the following reasons:
- Number of new highs didn't expand (actually shrunk) as we hit new highs in major indices last week.
- Since mid November last year, SPX is up 20% without a significant pull back, chances are good that one is coming soon.
- SPX is trading near the top of its price channel, upside is limited at the best.
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Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation. Furthermore, the opinions expressed may change without notice.
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