Market Update 8-19-2014
So as forecasted by our research once again the DJIA is pushing its way higher and closing in on new broader market record highs. Once a retest or close to a retest is complete the markets will then drop and head lower into the month of September and threaten the 200 day support once again. We will continue to sell many of our profitable positions into this current market strength and then position ourselves in short or inverse ETF’s and take advantage of the next short term broader market down turn.
Because we still have two months of typical seasonal weakness the next downside pressured assault on the 200 day broader market averages could result in a further breakdown to lower levels which we previously discussed around 15800.