Markets moved back into the negative column YTD and a lot of people are starting to realize that “buying the dip” can be a dangerous strategy. Any successful strategy needs to have risk management as its cornerstone. As I always point out, I prefer to buy AFTER a pullback when the market shows signs of stability and then begins to move higher. Presently, there is no sign of stability in the markets and cash is a superior position to blind buying into perceived levels of support. The video reviews key levels and what to look for next week.
Have a good weekend!