Trade Alert For Equity and ETF Models
Our technical models are rolling over, signaling an increasing likelihood the recent equity bounce from lows is ending. We sold our trading QQQ position last week in anticipation and are selling the remaining trading position in RSP (equal-weighted S&P 500) today. We also sold half of our IAU gold position as gold broke critical support at $1700. The price of gold has been in a bullish cup and handle pattern, but the handle appears to be giving out. We still hold a 2% position in IAU and are watching it closely.
- Sell 100% of RSP
- Sell 2% of IAU
Michael Lebowitz, CFA is an Investment Analyst and Portfolio Manager for RIA Advisors. specializing in macroeconomic research, valuations, asset allocation, and risk management. RIA Contributing Editor and Research Director. CFA is an Investment Analyst and Portfolio Manager; Co-founder of 720 Global Research.
Follow Michael on Twitter or go to 720global.com for more research and analysis.
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