Leaders weaken; no clear short term trend


As you know, I have a list of 9 high price market leaders that I like to monitor.   When the leaders start to weaken, the rest of the market eventually follows. Well, 4 of the 9 leaders have now closed below their critical 10 week averages.   They remain in longer term, Stage 2 up-trends, but are not powering higher now.   This is a good time for me to be to be conservative.   I own only the GLD ETF and am waiting for the market to show a clear short term trend.   The longer term trend remains up.   Sometimes it is better to sit on the sidelines and enjoy the show.

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.