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.
Last week ended with a slight positive retracement of some of the previous downtrend. However, there still have been seven down weeks out of eleven following the high of 7/27/2023 which have created new lows and wiped out of all last summer’s gains. 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 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 Chart with Fibonacci Retracement Percentages (from the all-time high)
Monthly Chart with Fibonacci Retracement Percentages (from the all-time high)