Day Hagan Market Update, hosted by Donald Hagan, CFA, was recorded on February 9, 2023. Don discusses a variety of financial market-related topics, including the driving forces influencing the global financial markets, the U.S. economy, NDR Economic Models, Inflation, Earnings Growth, the Information Technology Sector, Valuations, the U.S. dollar, Manufacturing, the NDR Catastrophic Stop model, and more.

Within the context of a supportive, internal, price-related backdrop, last week I twice suggested tightening up short-term (trading) stops or taking short-term (trading) profits in whole or in part. In today’s report, I expand on one reason why—beyond the SPX trading over 2.5 standard deviations above its 50-day MA, an overbought condition—I still suggest this near-term tactical move.