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Daily Market Snapshot
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| The market is deteriorating again |
Chart View
S&P 1500
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| This type of pattern formation (bear flag) can be viewed as a continuation pattern, meaning more downside to come. |
Market Direction Model
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| The market can not sustain a rally. |
The Woody Indicator
(Volatility Indicator $VIX)
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| Back in the Danger Zone |
The market is deteriorating. I will substantially reduce risk in all GWM Model Portfolios Thursday morning. Each bounce attempt has been very short lived. The news out of Europe and continued reports that point to slowing economic activity worldwide are definitely constraining this market. I think we need to ride this out in the safety of high quality bonds and defensive positions only.
This blog post does not constitute an offer of investment advice. This blog is only provided for educational purposes. Please read the Important Blog Disclosure posted in the right channel bar.
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