September 8, 2021, 3:49 pm EDT
Stock markets showed defense actions today with DJIA is down about -100 points and all major indexes are at red color now. Defense actions are presented when utility, consumer staples, and REIT emerged as shown from the sector bar chart.
Technically, DJIA is now at its 50 day-moving-average (DMA) line which is the key level for the medium trend. However, S&P 500 and Nasdaq are still in good shape in terms of their 50 DMA lines.
Overall, markets are lack of driving force to carry the record high indexes to even higher ground. Therefore, certain pullbacks are expected as a normal retreat if the volumes stay at low or medium levels.
Now, a trading strategy is to wait for the market to settle before adding or removing portfolio positions.