Strategy Update (2024-02-20)

Still a resilient market, very solid price action. It's time to be careful now and watch out for a change of trend.

Very volatile last week with a few market moving headlines, with both CPI and PPI readings coming hotter than expected.
We saw an ominous gap down on Tuesday and a quick shakeout lower on Friday. Nevertheless the strategy has held on a green signal for the time being.

The lower high on QQQ (and therefore TQQQ) is something to note for awareness and risk management.

This week will be key with $NVDA reporting earnings on Wednesday.

It's time to be careful now, we have seen a strong market during the release of 4th quarter earnings and could be time to step aside if we see further and significant market weakness.