We know that the Fed and foreign globalists have been holding the market in a Zombie state for the last quarter of the election year. I read one article describing it as the most eerie thing he's ever seen. Obama even abandoned his desire for being able to show deficit improvements in his final year (legacy status desires) to pump money into the markets. They knew the markets tanking in relation to actual GDP would be a death spiral for Hillary.
This makes all of the data extremely skewed and when the data becomes skewed, in fact one might call it "falsified" then pro traders will ALWAYS fall back on to chart technicals. I didn't even recognize I had subconsciously made that adjustment but when you read back through postings you can see a move away from posting as much data in favor of posting charts with technicals. Once I did recognize it consciously I have made macro comments strictly based on technicals, with very little data weighting because the data says we should be off by 12% on the year.
The top I posted the day before the 400 point drop would have normally been followed by saying it is a MACRO reversal to the downside, but I have left it at yellow/caution with my take to sideline the majority of 401k stock funds into cash equivalent money market funds.
So what does all that mean? Well it means I don't know the eventual trend due to the unprecedented intervention of the Fed and globalists in the markets. I DO know that having spotted that most recent top means exposure was eliminated and big profits locked in. I also know that recognizing the technical channel trend allowed for great covered call profits over a 5 cycle period - another unprecedented occurrence BTW.
Lastly, we know this market has become political and that is dangerous. Therefore I have the largest cash position (90%) I've had since July 2015. I'm in absolutely no hurry to implement a strategy unless we have an emotional overreaction to the election.
