The S&P 500 gained 3.2% this week which is definitely a strong move to keep the up-trend is intact. The only red flag is the decrease in volume which suggests that the Smart Money isn’t buying the rally.
As I stated yesterday, I anticipate that the market will show weakness in the near future and we could see a decent drop-off in prices after.
What does it all mean for you? So far, hold all your longs that are still trending up, don’t add any new ones, and keep an eye out for strong short ETFs and other weak stocks.
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