Current position for Active portion of portfolio: SELL – S.T.A.Y. Plus™
Last week the market ended with very little change, however on Friday intra-day it made a high of 4322. This was just slightly above the 61% Fibonacci level of 4305. So, it is possible that the market has finished with this intermediate top and is ready to continue the bear market. However, if the market were to persist with this type of action and materially achieve and maintain a level above 4300 it is possible that could push our indicators into a BUY mode. Time will tell if this turns out to be an intermediate top in a continuing bear market or a breakout into a possible new BULL market.
Weekly Chart with Fibonacci Retracement Percentages (from the all-time high)
Monthly Chart with Fibonacci Retracement Percentages (from the all-time high