The heavy volume selling on Friday would normally shove us back to a 50 / 50 stance between invested / cash. However, the selling was broad-based and didn't look like a rotation but rather an across-the-board dumping.
Because of that we will wait until the open on Monday to decide if shortening up is in order or if staying at 100% invested in QQQ & IVV is the wiser choice.
Fear of rate hiking was blamed for the selling in most quarters but if that was the reason bank stocks should have gained. More likely it was resistance at the all-time highs coupled with a rally that is long in the tooth.
We can't rule out that there was fear of a terror attack happening over the weekend while markets were closed since today (Sunday) was the 15th Anniversary of 9/11.
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