George Tkaczuk Analysis: Correction Continues for Equities
George Tkaczuk talks about the ongoing correction in the equity markets
In today's Traders Exclusive, George Tkaczuk advises traders to raise cash as the market downtrend continues. The S&P 500 is trying to hold the 1,900 level which is a key support. If it can't hold, 1,850 below would be the next stop, but picking a bottom is just guess work until the reversal makes itself apparent. The Nasdaq couldn't hold at the 200 day moving average and closed below it on Friday. Although now is a time to wait on the sidelines, it's always prudent to look for pockets of relative strength to keep note of heading into the next rally.
