Updated Charts for Our Risk Management Game Plan
Based on closing prices (2nd chart below), if the S&P 500 finishes today below 1,306, we would be more apt to raise additional cash. Using intraday figures (top chart below), a move below 1,294 would also increase our desire to raise/hold cash.
In the past, we have expressed concern about the pink trendlines below. They still concern us in the short-to-intermediate-term.
We have also shown the chart below highlighting 1,313 as an area that may be difficult for the S&P 500 to overtake and hold. A market close below 1,313 would also increase our desire to remain defensive for now. Please see this morning’s post for more information.
