As the market is want to do, it closed in a very precarious and interesting position. Price closed right on the lower trendline of a channel on the S&P500 and at support on the DOW. The S&P500 closed below the barely rising 50-day moving average. If “nothing bad happens when price is above a rising 50-day moving average,” and price is BELOW the 50-day, it is time to consider some caution, especially if the 50-day moving average turns down. The weekly close has created confusion in that the market can push upwards from the support of the rising channel trendline or can open on Monday below that trendline and lose support rather quickly.
Again, I ask if you are 100% invested, “Have you started raising ANY cash to reduce your exposure to the market?” Having a little cash on hand to invest at lower prices will help you to buy low and sell high. Again, if you bought low, perhaps it is time to sell some near the highs!