Highlights
- Although the SPY and QQQ ETFs have registered new highs, we don't see enough evidence to say we should be adding to long exposure after the recent 5% plus rally.
- Rather, we see divergences and lack of breadth "thrust", leaving us with a preference to hang on to what we bought in April, and see if things can get better from here.
- As such, we stick to our plan of avoiding aggressive buying up here, selling/reducing. . .
