The market rally continues, hower 3 of the 4 major indices are now extremely overbought. The SPY bull / bear ratio has broke above the 1.50 level, which it has been unable to do since mid July. We remain bullish, cautiously waiting to see how the market will clear these overbought conditions.
After our daily look at the market, we turned to managing our simulated ETF portfolio. We were a bit surprised that our Macro holdings ( GLD, SLV, TLT, IEF) all survived the unwind of the "recession trade" ...at least so far. We are fully invested according to the rules of our ETF plan, but tomorrow we will look to make adjustments via forced liquidation and acquisition if we find opportunity.
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