Near Term Trend: Positive
Friday’s Close: 2367.34 (+ 3.53)
UPDATE: Six 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 believed 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.
As of Fridays close, the Index is in fact up 3.2% from our commentary six weeks ago, Therefore I would recommend booking a total of 40% of your Equity holding profits.