It looks like a pullback in the making. The rise has been sharp and steep and the market has to pause for breath. The short term averages are running away from the long term and that cannot be forever. AAPL paused and appeared to halt the whole market.
My chart on CAT shows a pause as well and I have closed out my long position. I am hesitant to take a down position only because the broad market trend is up and I hate to bet against the broad market. I have also closed out my position on AMD at a nice profit. Entered at 5.66 and closed out at 7 something. The exact numbers don’t matter. My system is still long but the short term cycle indicators are saying pause. Better to be safe than lose profits.
Still holding on to my GLD position and of course I am also strongly long in my 401K positions. I had added some more SPY put options in as a hedge against the long position. That means I am still long but a pull back will mean less loss. Went back long in TIP as well.
Here are some of the charts on CAT and AMD.
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