Week of August 26th - Signal Update
Short Term - No surprise we have stayed negative, between market data and tweets, it was a volatile week. From our high on July 29th, the S&P is down just over 6%. As you can see from the chart, we continue to be "range bound". But we have volatility above 21 and big volume on down days. Both of which keep us from adding at this point.
Mid-Term - Has continued negative, as you can see the negative crossover with MACD(Momnetun) in the bottom of the charts. We also closed below the wedge, none of which are good signs. Because of this, we are still carrying a larger than normal cash position.
Long-Term - If it were today, it would be negative. Going into the month, it looked like MACD (Momentum) was going to have a positive crossover. But it has stalled and is pointing down again. You don't have many negative crossovers, so when you do, you need to respect.
Tried to add gold late in the week, but wanted to be patient until Powell had his speech. Add in tweet storm from the President on China and I couldn't find my entry. It's good to stay disciplined with a process, especially with high volatility.
As always, it's a good time to #staynimble.