S.T.A.Y.™ current position for Active portion of portfolio: CASH – S.T.A.Y. Plus™
We have been "long the market" (terminology for going with the upward trajectory of the market) since the “line in the sand” level of 4607 was penetrated during the week of 12/11. The significance of the 4607 level is that it was a previous high for many months which occurred on July 27th, 2023.
Since 12/13, the market has risen about 3 ½% with about ½% of that being this last week. Therefore, we are in line with what the market is doing.
Keep in mind another “line in the sand”, which would be the previous all-market high of 4818 made on January 4, 2022. This is the “line in the sand” that the market must penetrate in order to leave the bear market in the rear-view mirror. Although we are not out of the woods yet.
This new long position may be for a few days or a few weeks as we will be operating off of our shorter-term indicators to make changes as needed in a timelier fashion. We will keep you posted. If this new signal shows to be a continuing successful breakout, we will change the longer-term signal from CASH to a BUY.
Weekly S&P 500 Chart with Fibonacci Retracement Percentages (from the all-time high)
Monthly S&P 500 Chart with Fibonacci Retracement Percentages (from the all-time high)