Near Term Trend: Positive
Friday’s Close: 2316.10 (+ 8.23)
UPDATE: Five weeks ago, when the Index was trading 2273.00 we suggested to book profits on at least 30 percent of your U.S. Equity holdings.
We believe another 3.0% move higher is not worth the risk of holding a full equity position, and that it won’t be long into Q1 when profit taking could be initialized.
Thus far the Index is up 1.9% from our commentary five weeks ago.