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CAUTION ON NEW POSITIONS
EXPANDED SHORT TERM MARKET HEALTH CHARTS FOR SPX/NYA/NDX SHOWN BELOW.
The SP500 and NYA and SPX short term market health charts are all in correction mode. Use the Hedge Generators to take appropriate protective action and stay away from new positions.
We have been anticipating this pullback and look at it as a buying opportunity once the dust clears.
For those holding longer term LEAP positions the hedges are a better alternative to selling since you will be looking to keep your capital gains on those issues.
The overall volatility should pick up in the next week or two as we go through this mild corrective action (I don't expect more than a 3%-5% selloff and we should have a number of great buying opportunities on the other end.