back to blog homepage

Stock Market Pullback?

If you look at the graph above, you’ll see that the S&P 500 has broken its uptrend line. The most likely technical reading for the S&P 500 shows a 3% loss in coming days, with the potential for more depending upon what the news has to excite traders.

In late September, we placed a number of stop losses under technically weak holdings, some of which have hit and the proceeds are being held in money market.

I’ve also been adding some Good Till Canceled purchases, a few of which have hit, in some technically strong stocks.

This volatility (weeks up, weeks down) is good for a system described above. You are able to book profits and secure profitable entry points in new holdings, making for a great year.

Mark