Capitulation? Or a Bounce to Sell Into Now?
During the current backdrop, the best trading strategy is to either stay in cash until a less volatile market presents itself or to trade tactically and not overstay your welcome in any one trade. As I mentioned last week, the short term trend is down, but the bigger picture is a healthy consolidation period after a five-year bull run.
Take a look at the S&P 500 over the last five years, and that trend is clear.
At the time of publication, the author held no positions in any of the stocks mentioned.Follow @Sassy_SPY This article represents the opinion of a contributor and not necessarily that of TheStreet or its editorial staff.
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