The market is again at a crucial juncture. It wants to climb
higher but the pressure of daily and weekly resistance is against its doing so.
My daily and weekly time frame charts on SPY both show downward signals. See
the charts below…That is really quite unusual. I am sitting on the side
lines right now. I had dipped my toes in for a put option position on SPY but
quickly exited with a small profit after the market went down and rushed up on
Friday.
In my previous employer’s 401K, the recommendations are to
be in Cohen & Steers Realty fund, Fidelity Contra fund and American Century
Income Instl. Vanguard Instl Index is also a valid choice after these three.
In my current employer’s 401K the fund choices are Spartan
500 and Fidelity Growth. That means the third choice would be cash or money
market.
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