Keep cash on hand and be ready to buy the dips
by Michael Sincere
U.S. stocks are in uncharted territory. For the first time since 1999, all three stock indexes are making record highs simultaneously. Plus, the major indexes have not lost more than 1% in the past seven weeks. On a technical level, the Bollinger Band squeeze on the S&P 500 is the tightest it’s been on a 20-day moving average in more than 10 years.
Let’s first take a look at the most recent indicators for additional clues:
S&P 500 is above its moving averages = Bullish