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Time for Caution, but be Ready to Capitalize – My 2 Cents

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Written by:  Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)

With a little over a week before the USA Election, the info below will show this is a time for caution to say the least.  NOTE:  That does not mean that we shouldn’t be ready to capitalize quickly when the market reacts to the result.

As I mentioned previously I went to cash on Aug 28. A sample quality USA Portfolio will show I never really missed anything. Even a quicktest of the AI Portfolio which was shared (An Amazing Portfolio to say the least)  also didn’t soar during this time

GOLD. While very weak, gold is holding major support and with Value still rising, if we get the pop I have been continually been told about, it could be very good.

CA Gold Oct 23 2020

Now for the markets:

USA:

DOW JONES, NASDAQ & S&P 500 are all exactly the same.  After a potential Bull Flag last week all 3 markets have gone straight sideways. Note the last high was a Lower High.

MKT TIMING:   After a failed breakout the Price has gone sideways the last 7 days.

READ Strategy,  Earnings Indicator still unchanged and % Bullish Advisors continues to drop.

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US MTI Oct 23 2020

CANADA

PTSE:               Barely holding the 79 SMA

VENTURE:       3 lower highs and twice held the 79 SMA  A Wedge setup

MKT Timing:     Failed at Previous high. Held the 79 SMA and now holding the 20 SMA

READ Strategy   Earnings Indicator once again didn’t move

CA MTI Oct 23 2020

I hope everyone enjoyed the VectorVest Financial Freedom Summit.  I have 2 more weeks of insane work and then I start to get caught up with all of Stan’s amazing videos and Views

Stay well, everyone.

As always nothing more than my 2 cents and I hope it’s of value and interest

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