Disclosure: This post contains the current opinions of the author but not necessarily those of Ciovacco Capital Management. The opinions are subject to change ...
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Disclosure: This post contains the current opinions of the author but not necessarily those of Ciovacco Capital Management. The opinions are subject to change without notice. This article is distributed for informational purposes only and should not be considered as investment advice or a recommendation of any particular security, strategy or investment product. The charts and comments are not recommendations to buy or sell any security. Market sectors and related ETFs are selected based on his opinion as to their importance in providing the viewer a comprehensive summary of market conditions for the featured period. Chart annotations are not predictive of any future market action rather they only demonstrate the opinion of the author as to a range of possibilities going forward. All material presented herein is believed to be reliable but we cannot attest to its accuracy. The information contained herein (including historical prices or values) has been obtained from sources that Ciovacco Capital
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I think we will keep seesawing for a while until capitulation is apparent. A downside is much more apparent than a new upside simply because profitability is dropping not gaining and the Federal Reserve have already artificially manipulated the economy with low rates and coercing TBTF banks to gamble by buying stocks.
Look for a fall this year but more like in the Summer doldrums. I'd avoid bios and tech. They are already pushed up and even though they are bets on growth more than profitability, even growth is looking weak.