Monday was the day that the spx (S&P 500) reversed down. This is one indicator
I follow and use as an early warning signal.
I sent out an urgent email over the weekend after the weak jobs report warning my subscribers that a reversal down in the spx looked imminent. Today I sent out an email telling them to move at least 25 percent of their 401k and/or IRA money into moneymarket.
I moved my 401k advice accounts into moneymarket. I also moved some money in my mangaed accounts into money market.
Now this could reverse tomorrow but we have some outstanding gains over the last few years and I see no reason to be a PIG.
After all its Passover!
This is a defensive measure because in my mind its all about Capital Preservation.
My main indicator is still favoring stocks but there are a bunch of minor indicators that are indicating some trouble ahead.
We'll see what happens from here.
I'll be watching the spx to see if it can make a new high at 1430 which would be very positive. On the other hand it could make a lower high or a double top at 1420 and reverse down from there which would be very negative.
Bottom line is we're at a crucial point right here. This is where you need someone with their eye on the ball.
This is a place where the buy and hope advisors have real problems.