7/19 Caution
A hint of caution through Friday
Friday Caution
Friday put some caution on the table with the index losing key support, and the risk-off criteria rising to 2 of 3. As the charts are reviewed this week it remains clear that little structural damage occurred through Friday, and all of the charts continue to operate inside of their own respective choppy and noisy consolidation boundaries.
By absence of a risk-off alarm during this period, the system has kept steady through the chop signalling no need to jump ship at this time. When that changes an out of cycle note will be issued to signal the risk-off alarm and trade plan changes.