Michael Douglas, in the movie “Wall Street” shares that Bulls make money, Bears make money and Pigs go to a BBQ…well not exactly, yet you get the point. Did some harvesting of gains recently due to the situation you see in the chart below.
Game plan…Harvested of late… Am NOT GOING TO TAKE POSITIONS to score on defense at this point in time! Why? Other pattern breakouts…. in High Yields, Nasdaq 100 and numerous International markets.
If some big decline is about to happen, the bottom of the wedge has to go first and if it does, will pick up the inverse positions.
For those that want to take positions to score on defense, I understand why and feel free to right now!