rcp - As usual, I go on vacation for a week and the technicals weaken considerably. The Nasdaq should NOT have closed BELOW the March 11 close of 2250 if there is a new bull leg. I also see that my key moving averages crossed ... which confirms the bad news!
I plan to take my leveraged index positions to cash after this brief bounce at the 200dema. I will wait for one of my major bottom signals before getting back in. A major bottom signal could happen in the next several days, but it will more likely be in the weeks ahead based on Put/Call fear levels. When it happens, I will be back playing the bull side again.
I hope $XAU precious metals is up/flat Monday. I'm ready to sell all of it after seeing that gravestone doji on the Weekly bollinger band last week. I would have sold it on Friday, but I did not bring my laptop with me on vacation. I will look to rebuy later.
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