Mondays action was erratic as the market battled around the 200 day moving average for many indexes. The DJIA actually seemed to find support down at the 50 day moving average.
Taken as a whole the stock market seems to be in pause.
Futures are up aggressively this morning on speculation that the Fed will cut rates this year.
Volatility readings also spiked on Friday and Monday which could signal a short-term bottom.
Despite those positive signs we are sticking with our cash position today as outlined in a prior post.
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