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NASDAQ’s Best Eight Months Update
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By:
Jeffrey A. Hirsch & Christopher Mistal
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June 09, 2017
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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 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 Monday’s average price.
Also, at this time we will add to existing positions in iShares 20+ Year Treasury Bond (TLT), iShares Core US Aggregate Bond (AGG), iShares Silver (SLV) and SPDR Gold (GLD). 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. Russell 2000 exhibits a similar pattern to NASDAQ an similar precautions can be considered for small-cap holdings.
Disclosure Note: At press time, officers of the Hirsch Organization, or accounts they control held a position in AGG, GLD, IWM, QQQ, SLV, TLT and XLP.