The Daily Drip
Markets review, strategy and analysis
SP500.
The market continues to make small gains in expectations of Friday's Fed chair Jay Powell's speech. Trend followers don’t have many choices here but to stay long the market. As crazy as it might have looked a couple of Mondays ago, we are close to making new all-time highs again. I am not smart enough to understand or explain the macro environment around us, the debt, the political risks, the geopolitical shifts, but I do know this: “don’t argue with the market”. The biggest lesson a trader can learn. I have taken a couple of gains today in MELI and UDOW to reduce a bit before Friday, but I do remain near 95% invested.
The technical page is healthy at this moment with all indicators supporting the uptrend positioning.
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