S.T.A.Y.™ current position for Active portion of portfolio: CASH – S.T.A.Y. Plus™
Lower Lows and Lower Highs. Market continues in a definite downtrend since high of 7/27/2023.
Last week the S&P 500 ended with a large loss of about 2½% for the week. Since July, there have been eight down weeks out of twelve following the high of 7/27/2023, which has created new lows in the S&P 500. As was mentioned in previous weeks, we are in a “mountain road” market, therefore we took an inverse position on 8/11/2023. The positive results of taking an inverse position are shown in the "3 month" charts below. We will stay in an inverse position until our shorter-term indicators show otherwise.
This 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.
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)