S.T.A.Y.™ current position for Active portion of portfolio: CASH – S.T.A.Y. Plus™
In the last week, the market retrace has extended slightly, however it is showing hesitation and has not exceeded the high of 7/27.
As you can see in the weekly chart, the retracement has retraced about 90% of the decent from the recent high of 7/27/2023. It appears that last week the market may have reached an intermediate top, time will tell.
Also mentioned in previous weeks, we are in a “mountain road” market, therefore we have taken an inverse position on 8/11/2023. We will stay in that 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)