QQQ - SPY: Sell Signals Caused By War Uncertainty (Technical Analysis Downgrade)

2024-04-17 09:51:50 ET

Summary

• The market has put sell signals on our charts due to uncertainty in the Middle East, prompting a move to cash in our 2024MP Model Portfolio.
• Robo24MP Model Portfolio still has open positions based on mechanical sell discipline.
• Both daily and weekly charts show sell signals, indicating an end to the bull move and a need to wait for a buy signal before buying on weakness.

The market as represented by SPDR® S&P 500 ETF Trust (SPY) hates uncertainty and has put Sell signals on all the charts below while waiting for war issues to de-escalate in the Middle East. We have gone to cash in our 2024MP Model Portfolio and will re-open positions when the market is no longer worried about a Middle East blowup. This portfolio is manually managed by me. It is a ten-stock portfolio that goes to cash when we have Sell signals on all the charts, as shown below. ...

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