Model switches to CASH/NEUTRAL.
Deleterious price/volume action has pushed the model into a cash signal. Also, with inflationary issues flaring and more members of the Federal Reserve suggesting tapering before the end of the year, markets may be soft for the time being. That said, the Fed does not want to upset the apple cart when it comes to buoying the stock market with a steady or increasing flow of QE, so actual tapering still remains unlikely. We also have multi-trillion dollar spending packages on the way.
Expect a tug-o-war to ensue between "to taper or not to taper", thus more rip tides for the stock market.
Market Direction Model - Model switches to CASH/NEUTRAL on September 28, 2021
|Published:||28 Sep 2021 09:34 ET|
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