Take profits - preserve your account balances

24 Jul 2020

Here is the Dow Jones up against resistance downtrend line on weekly chart, and when you look at monthly, you see the index has come back up to 10sma. Also note RSI on weekly is hitting bear resistance (60-65) twice - double touch of white line - after dropping below 30. There is a strong possibility that August will see the U.S. indexes move lower.
This is a smart time to take profits in your retirement, education, health, and investment accounts and increase cash. If dollar index continues falling and inflation does pick up (as many pundits are claiming) then you will want to choose investments that can benefit from this. Research commodities, foreign currencies, rental properties, U.S. companies that are exporters, and emerging market and international funds.

24 Jul 2020

Catatan

I wanted to clarify - I am not saying the market is going to tank. I am not an expert in prediction. I am saying to be smart about your profits so you do not lose them, and to choose future investments (for the next few months-years) wisely. Consider your finances in the context of your life situation and use caution in choosing how much you will risk towards any one type of investment.

29 Jul 2020

Catatan

If you draw the same trendline on the daily chart, you can see price looks set to break over the line. Monday was a bullish engulfing candle but the high has not been broken yet.
RSI 7-day dipped below 50 on Tuesday and is back over 50 today. If Thursday breaks over today's high then you have a signal for more upside. Wait for resistance to be broken, and check weekly chart after Friday.