Tuesday did indeed turn into a distribution day bringing the count to 5 on both the S&P500 and the NASDAQ.
This could just be normal profit-taking as the indexes bump around new all-time highs. Remember, the NASDAQ hasn't been at this level in over 16 years. It wouldn't be normal to just fly through that number.
However, it could be the start of a correction. The sellers are still in charge this morning, Wednesday, August 17th.
The strategy still stands at 100% Invested/ 0% cash.
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