Bulls On Parade
Not last week.
The start of the week was a good one, staying right in-line with our positioning. The end of the week, however, was not a friend of ours. On a daily look at the SPY, we came all the way back down to test the lows from 2/22 (and actually broke them by 8 cents). That would mean that on a weekly look at the SPY the weekly lows were broken by 8 cents as well.
Although the weekly low was only broken by 8 cents, that 8 cents is more than enough of a price move that we need to realign our positions with the way the market is moving. As such, we are tailing back some of our bullishness.
Remove 1/3 of your bullish position (see new weighting below).
Current Weighting Suggestion:
1/3 in Bullish Leverage
2/3 in CASH mode
Keep an eye on your inbox for a potential intra-week update.
You can email me with any questions at firstname.lastname@example.org.
Have a great week!