S.T.A.Y.™ current position for Active portion of portfolio: CASH – S.T.A.Y. Plus™
Market continues in a definite downtrend since high of 7/27/2023.
Seven out of the last nine weeks have been down weeks. This is best visualized on the weekly chart below. Each candlestick represents a week. The red ones are the down weeks. The top of the red stick is where the week opened. The bottom is the weeks close. The "wicks" represent the inter-week trading range. Since the high of 7/27/2023, almost all of the summer’s gains have been wiped out. As was 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 more days or a few more 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 Chart with Fibonacci Retracement Percentages (from the all-time high)
Monthly Chart with Fibonacci Retracement Percentages (from the all-time high)