Saturday Market Update

You are receiving this email because you signed up to receive True Market Insider. Unsubscribe Keep the emails you value from falling into your spam folder. Whitelist True Market Insider. Forgot your login information? Click here. Saturday Market Update  Hey, TMI Editor Doug Fogel here. Welcome to this week's edition of Saturday Market Update.  Today, we want you to be aware there's a good chance the market will correct sharply soon. The reason – it's simply gone up too far, too fast. To illustrate, on August 18, the S&P 500 closed at an all-time high of 3,389.78. That's a mere 151 days since the March 23 bottom of 2,237.40. That's an astounding 51.5% rise in a shade over five months – the quickest turnaround from bear to bull market in the history of the S&P. This unprecedented development warrants caution, as evidenced by the S&P's Bullish Percent Index (BPI). Right now it sits at the 80% level. Once a chart like this gets above 70% (the red highlighted area) it's considered overbought.    So right now the market is deep into overbought territory. Look at the red 'O-columns' that follow the purple arrows, and you'll see what historically has happened when the S&P has reached levels like this. When you get a BPI reading this high, you need to be careful. So if you own any underperforming stocks, it's worth considering unloading them to generate cash you can use to take advantage of a correction. The bottom line is that, while our signals say a downturn is likely, they are NOT forecasting a market crash in the near term. So any dip will provide opportunities to buy strong stocks at a discount. Earn Up to $4,928 Extra a Week Costas Bocelli just shared his secret to banking $4,928 a week in extra income. It's a strategy so effective, it's created a decade of profits for readers of his Profit Skimmer trading service.  For a limited time, we're posting a REPLAY of Costas' event, "10 Years of Profits." Go here and watch it now -- before it's taken offline for good.  This Week in True Market Insider... Here's 5 Small-Cap Standouts to Start Your Trading Week TMI Editor-in-Chief Bill Spencer reveals five small-cap stocks well-positioned to gain, each of which is in a sector that's outperforming the wider market -- and beating their sector peers.    This Indicator Says Sell... a Little TMI founder Chris Rowe alerted readers that one indicator he uses warned that the market was overbought (and you know what happened a month later, in March). Now, the same indicator is flashing another warning sign no investor should ignore.    Buffett Goes All In On Gold Matt Badiali, our newest editor, offers compelling evidence that the bull market in gold has just begun. He also provides three under-the-radar trade ideas worthy of consideration.   This Hot Sector's Vulnerable to a Selloff Profit Skimmer and Options Soup editor Costas Bocelli takes a deep dive into the red-hot retailing sector... but warns it's at risk for a significant selloff. But fear not -- he reveals a savvy five-part strategy to guard against the downside risk of owning retail stocks.    Friday Q&A: This Could Boost Your Returns by Double Digits Bill Spencer, in answer to a reader's question about sectors, reveals the 10 strongest -- and 10 weakest -- sectors today. He also shows how you can determine the best/worst market sectors yourself.    Copyright  ©   2020  True Market Insiders, All rights reserved. Our mailing address is: 33 SE 8th St, Boca Raton, FL 33432 Want to change how you receive these emails? 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