***Stock Market at a Critical Decision Point***

Friday, March 01, 2019

Dear Friends,

Quadruple top

Take a look at the below daily chart of the S&P 500 index. Specifically let’s look at:

  • The quadruple top pattern that has emerged (the 4 red arrows and thick red line)

  • Stocks keep bonking their head against the 2800-2813 resistance level and turning down

  • Bearish market participants see this with glee – hoping for a market retreat

  • The blue line, that’s the 200-day simple moving average – the long-term trendline

  • It’s a bullish sign that the S&P 500 index remains above the long-term trendline

Our thoughts

We believe that the markets will breakout above that 2800-2813 resistance line and move higher. Because:

  • Volatility is much lower now than the last 3 times we hit 2800-2813,

  • The last 3 days have shown very modest declines after hitting resistance of 2800-2813,

  • The last 3 times the S&P 500 index hit 2800-2813, stocks turned down significantly in a just a few days,

  • The market remains above the long-term trendline

We will continue to monitor this situation closely

  • We do not make investment decisions based on our guess of the future (since no one knows the future).

Founded in 1992, Jackson Wealth Management is an independent, fee-only investment advisor. Founder George P. Jackson has been the CEO/CIO of the firm since its inception with the goal of delivering value to his clients and his associates. 

Securities Offered through Triad Advisors, LLC. Member FINRA/SIPC
Advisory services offered through Jackson Wealth Management, LLC. 
Jackson Wealth Management, LLC is an affiliate of Jackson Retirement Planning, Inc.
Jackson Wealth Management, LLC is not affiliated with Triad Advisors, LLC.

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