HGSI Doc Top Down Review 5.2.2021
Previously published earlier today, on the HGSI Community Forum. For earlier access to Dr. Scotts Top Down Review, please register at HGSI Community Forum.
We made it thru the gauntlet of large-cap Tech earnings, Fed Meeting, Biden 100 Days speech, and a host of economic numbers. The markets finished primarily unchanged for the week, but it is a bit deceiving as the weekly chart bars had solid up and down moves.
The market appears to be vulnerable here as most of the major indices are consolidating just below near highs, especially the SP500, as it consolidates around the 162% retracement from the March 23, 2020 lows. As I mention in my video, I added some hedges late in the week and held them over the weekend.
Have a great week.