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NASDAQ Seasonal Sell Update
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By:
By Jeffrey A. Hirsch & Christopher Mistal
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June 04, 2015
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As of today’s close, both the faster and slower moving MACD indicators applied to NASDAQ have turned negative. At this time we are issuing our official MACD Seasonal Sell signal for NASDAQ.
NASDAQ’s “Best Eight Months” have come to an early end. As a result, Sell First Trust DJ Internet (FDN), iShares DJ US Medical Devices (IHI), iShares DJ US Tech (IYW), SPDR Technology (XLK), iShares Russell 2000 (IWM) and PowerShares QQQ (QQQ). For tracking purposes, these positions will be closed out of the ETF Portfolio using today’s closing prices.
Also, at this time we will officially add to existing positions in iShares 20+ Year Treasury Bond (TLT), iShares Core US Aggregate Bond (AGG) and AdvisorShares Ranger Equity Bear (HDGE) using today’s closing prices. New buy limits appear below in the updated ETF Portfolio.
This NASDAQ Seasonal Sell Signal is a reminder to tighten stop losses and/or take profits on technology related positions as NASDAQ’s seasonally favorable period has come to an end.
In addition to closing out tech and small-cap related ETFs, also Sell Direxion Daily Jr Gold Miners Bear 3X (JDST). For tracking purposes, it will be closed out of the portfolio using today’s close.