Highlights
- Our Risk Gauge has down ticked into "Risk Off" in the monthly (MT) timeframe, confirming what it has been telling us for several weeks.
- The quarterly timeframe (LT) is hovering just above the mid-point of "Mixed", so the next overbought condition will present investors with their next opportunity to get more defensive (raise cash, add to shorts).
- Resistance starts at around 5466, which is where we would begin to take such action.
- With "Risk On" off. . .
