Do not buy into the press's nonsense that the S&P 500 is staging a comeback. It may bounce like a dead cat, but it doesn't have legs. I'm not confident that the market has a rally left in it without a correction, and that'll need to be 10% to 20% draw down to rekindle the enthusiasm in the market makers to drive it higher. If the market is truly rallying back into full steam ahead, we'll need to see the S&P 500 rise and hold above 2950, and that's just to close the last major gap down.
Right now, if you're not certain of anything, cash is a good option. I'm holding my assets is mostly bond funds and precious metal funds and miner stocks. As always, conduct your own research and analysis before executing a trading strategy.
Komen
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I don't have a way to short sell the SPX in any way (my broker doesn't allow inverse ETFs), but I'm using this as a signal to stay out of stocks from the S&P 500 without a very sound theory of why I would consider buying. This week's whipsaw up and down only confirmed that decision for me.
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The market is no longer dropping. I'd consider this a bullish reversal with some headwinds on the new rally. It may be short lived, so keep your targets and stops tight.
yes. we will have a few bounces along the way where money can be made but the trend is downward it seems.
Maztamynd
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As a rookie trader still learning the ropes.. even I can agree with this.. This is not a rally, waiting to see if we even break SPY @ 292 much less anything higher today, def a short type of play today.. TLT is something to watch ... Powell might either say something that the market reacts to but doubt it