Another disappointing session for stocks. While the S&P 500 and Dow finished higher they were off their highs. Small caps and Nasdaq continued their weak action. At this point it is not worth trying to force anything in this market. Cash remains King.
Yesterday the Nasdaq finally had its 50 day cross under its 200 day or better known as the death cross. Finally, we have seen this day come. It certainly doesn’t guarantee we continue lower, but certainly is an ominous sign.
At this time we will continue to look for signs of a potential bottom. Expectations are not for this to be any time soon, but you never know. There is no need to be a hero. Stay patient.
keepng this short due to travel and there really isn’t much to do.
