Santafe2, Just curious how you see things playing out over the rest of the year? Thanks.
In the near term, it looks like a test of the 200 MA next week for the SPX, then probably some type of pullback. But after that will be the big question, for the near/mid term anyway.
Just curious about your current strategy? Better to take profits at the 200 MA and then try to reload after the pullback? Or alternately, just stay long and ride out the inevitable pullbacks that occur this Fall?
I'm tempted to just stay long, but on the other hand don't want to lose those nice gains that have built up over the summer. But seeing the RSI well above 70 for so many indices and sectors has me getting nervous.
With the Fed's Sept rate decision, 3/4 point is still very possible, and the recent downtick in inflation could just be a head fake. Dudley previously said that the Fed needed to get the stock market lower as a policy tool, so they may remain surprisingly hawkish this Fall to keep a lid on the stock market.
Thanks for any insights :o)
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