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Market Direction Model - Model switches to CASH/NEUTRAL on December 21, 2018

As per the prior email to sell your buy-related ETFs when the NASDAQ Composite hits 6446, the Market Direction Model has switched to a CASH signal. Thus the price on record is 6446. The downtrend remains intact. The fact that the market cannot stage a bounce after the CBOE total put/call ratio spiked to 1.37 earlier in the week, then 1.82 on Thursday 12-20-18, a 5 year high, among other aspects of unusually weak market action, speaks volumes. Further, this is looking to be the weakest market action in decades for the bottom half of December, but maybe should come as no surprise after 10 years of QE which has overinflated values. Should the Fed take a drastic approach and reverse their position of hiking rates, that may actually cause a loss in confidence in the Fed, thus precipitate more selling. Indeed, it seems the Fed may have exhausted all of its 'Trump' cards. Inevitably, always keep your stops tight, especially when levels of volatility are this elevated.
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