This will be a very shortened review.
The three major averages, after a big drop on Monday worked its way higher by Friday to close mostly unchanged (0.1% for DJIA and NASDAQ). The NASDAQ Composite is now 109 points away from the green horizontal resistance line of 7274 on the chart. No action will be taken on the remaining 50% of the cash until that level is exceeded.
An interim update will be emailed to subscribers if this situation occurs during this week. Make sure your stop LIMITs are in place. Note that the fast MACD did have a negative crossover on January 22, but that it was ignored as the slower MACD is still rising as is price. Remember that this faster MACD signal will only be used to enter markets that have fallen so we can get in quicker.
The percentage of NYSE stocks above their 50-dma has surged to 77.65% surpassing the 76% level attained in January 2018 and nearing the next closest high at 78% in October 2017. Usually, when these extreme bullish levels are reached the market consolidates or declines. We will wait to see what happens here.
Have a good week ahead!