Japanese news agencies have confirmed & announced that North Korea has launched a missile that apparently flew over the island of Japan. Fortunately, the missile broke into pieces and fell into the ocean with no casualties having been reported. With this news the markets are trading down in this evenings “night” session with the Dow currently -100. It is way too early to tell what to expect in the morning. Perhaps, & hopefully, calm heads will prevail. The large cash positions & defensive holdings in our strategies are insulating our clients well. Our minds remain open to various outcomes (both positive & negative) and our future investment decisions will be directed by the price & volume action of the market itself.
In the meantime, our “Sell” signal remains intact as major indexes continue to trade below important price support levels and other technical market internals continue to flash warning/sell signs. Please check back for future updates. Have a triumphant night!