I mentioned in the MidWeek Video (3/8/23) that I would be open-minded with my recent market call. What would lead me to change my mind and get more defensive was if the technicals started to breakdown and the market saw follow through selling after last Tuesday. Unfortunately for the bulls, the market saw further weakness on Thursday and Friday (today), and this led me to reduce exposure significantly over the past two days. As you know, my general guideline for selling stocks and ETFs is a decisive Friday close below the 10-week moving average. For members who are longer-term, you can use the 200-day. As always, I encourage members to make their own decisions based on their investment objectives, timeframe, and overall plan. I simply wanted to inform you that I reduced exposure in my efforts to be transparent. I will discuss this further in tomorrow’s Weekend Video, and if you have any questions, you can ask them during tomorrow’s live webinar at 11AM EST.
