THE BIG PICTURE

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Staying “NIMBLE” out there is the key to our game plan at this point .. A couple more signs of caution from our sentiment indicators this weekend but there is still enough juice in individual names for us to remain involved over the extreme short-term .. What would change that? To start, a switch in character out of sweeper activity where the risk appetite dries up & put sweepers start to get aggressive in individual names. Right now it’s all about momentum & there’s no better real time indicator of momentum than sweepers.. What we are really trying to avoid is carrying too much weight & eventually getting caught in a drawdown .. There could be more upside left in the little that is left of 2019 but for how much more potential risk? This current setup will resolve by either some consolidation in the major indices or an absolute explosion of buying that shows up into spots that already have started the process of digesting recent gains, while the overall market has continued higher. With a tariffs deadline looming, there could be an even quicker resolution than you might think .. So enjoy the holiday season, have a little fun yet stay involved & make sure not to add a bad ending to what was a fantastic 2019 ..