Current position for Active portion of portfolio: SELL – S.T.A.Y. Plus™ On 4/24/2023, I made the following comment; “For the technical pattern to look right, I think that the market needs a little bit more upside to put in an intermediate top. If so, an intermediate top could very well be between these two levels, my guess is somewhere around 4225 to 4250”. Last week the market made a move higher than we expected with a high of 4290. This was a bit more bullish than anticipated. If the market were to persist with this type of action and materially achieve a level above 4305, (see the red horizontal dotted line demarking the 61.8% retracement level in the weekly chart below) it is possible that our indicators could switch to a "BUY". 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. Regardless, we have our eyes on the market and will respond accordingly. Weekly Chart with Fibonacci Retracement Percentages (from the all-time high) Monthly Chart with Fibonacci Retracement Percentages (from the all-time high)
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