MDM switches to CASH as NASDAQ Composite and S&P 500 bounce up to their respective 50-day moving averages (50dma) which may serve as short term resistance. While the market may have already put in a floor, there is still a chance it could go lower. So while MDM could wait for the -2.9% failsafe on the S&P 500 to go to cash as discussed in this morning's PMP report, it is best in the currently challenging environment to move to the sidelines. Safety first. MDM will look for reversion to the mean to get back into the market closer to its floor which could come now or after further correction. MDM will be focusing on price/volume action in leading stocks and major indices as always.
MDM - Model moves to CASH/NEUTRAL on September 26, 2014
| Published: | 26 Sep 2014 15:24 ET |
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