I
didn’t get a chance to write any comments regarding the end of last week until
tonight, Sunday.
Friday,
every talking head on CNBC seemed to be mentioning caution, defense, and
recession. I suppose a down day with a
2.5% drop in the S&P 500 will do that, but when the technology analyst said
technology may not fall as much as the rest of the market, we can conclude that
here is another expert calling for more significant declines.
We’ll
watch the numbers around the 1120 prior low.
While I think the market is going down from here, we must trade what we
see not what we think. The NTSM analysis
could indicate a buy in that area. I
would buy if it looks like the selling has ended. I do caution that the Market could reverse down
again after a buy. As unsettled as the
market is now, it may be difficult to get a good handle on market direction. We'll see.
Friday
the Navigate the Stock Market model was a SELL again.
I sold on the 27 July sell signal at S&P 500 1301 and I am
defensively positioned with only a small amount of my portfolio invested in
stocks. (Zero stocks in the 401k.) (See the page “How to
Use the NTSM System” – the link is on the right side of this page).
