This will be a shortened blog post as is the case every other week. There will not be a post on next weekend as July 4 approaches unless there is a Dashboard SELL signal.
The NASDAQ Composite hit another high last week as it rose 1.84%, as the other two averages were basically flat. Indicator#8 issued a SELL signal as the MACD experienced a negative crossover on Wednesday. Therefore, the Dashboard falls to a “2” NEUTRAL signal. BRF is the only ETF left in the portfolio. In eftscreen.com only 9 ETFs have a ‘pass’ rating which is very poor showing with the market at or near its highs.
New highs totaled 368 last week, not impressive. Only 57.44% of all NYSE stocks are above their respective 50-dmas. Fixed income ETFs continue to advance, as oil and gold ETFs fell.
Be very careful at this junction, as many ETFs and stocks are having trouble moving higher. The exception is about a dozen NASDAQ high fliers that comprise about 40% of the composite. Trailing stop limits should be in place that reflect your risk tolerance as a safety measure.
Have a Happy and Healthy July 4 Holiday Weekend
Remember that you are responsible for your investments and how you manage them. If you decide to follow the BDH strategy, then you are responsible for checking the BDH indicators daily during times when the market is volatile. Just bookmark the two charts above and look for any signal changes. I may not available during the week to provide interim Dashboard signal changes. It is important to be pro-active, so as not to miss any Dashboard signals. Decide on and place your stop LIMITS that meet your risk profile.