THE TRENDS: As you can see from the image below, the market sold off heavily this week compared to last. It closed below the all important 130 level, which points to a high probability move lower to the 116-120 zone. The intermediate term trend is decidedly down. When looking at the monthly chart the long term trend is now neutral.
SUGGESTION FOR 401-K: There is absolutely NO reason to get back into the market now. It is conceivable that if next week the market rallies back above the 130 level, that there may be another leg up. But until that time, I'm staying on the sidelines
Have a great weekend!
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