We're in another wait and see mode......fears are once again increasing that the FED will dump its buying program and the markets will suffer. This is an old story but as September approaches the risk hedgers have apparently decided to lighten their portfolios...just in case and buyers seem reluctant to step and pick up the stack.
What looked like an encouraging bottom pattern in GLD has turned into a sneaky trap door situation.
Meanwhile the bond ETFs remain struck at the back of the momentum rankings while tech and health care try and regain their footing.
Better safe than sorry in this trading environment...there are few buying bargains to be found.
