Trend Reversal

The stock market trend as seen through the lens of the S&P 500 has reversed and turned bearish. Accordingly, I will liquidate my position in SPXL.

S&P 500

Here is the chart of the S&P 500 with the price and the short-term indicators.

We can see that the green line which is the 10-day simple moving average has crossed below the red line which is the 20-day simple moving average. For me this is the indicator for a confirmed reversal to the bearish side. I will sell my SPXL if the markets are down around 10am this morning. Looking at the pre-markets this looks likely at this point.

Other holdings

Looking at my other current holdings:

TQQQ has reversed and turned bearish

FNGU has not

BULZ has reversed and turned bearish

PICK has reversed and turned bearish

IWM has not

EEM has not

Actions

I will sell SPXL, TQQQ, BULZ and PICK at around 10am this morning if the markets are lower at that time.