Sitting out for another day
Average investors should be cautious right now.
The index is trading at 2,235.80 with resistance at 2,267.55 and support at 2,214.83.
My advice is to trim stocks trading below their 50-day moving averages, but I'd not replace them until I see some support in the market.
Jim Van Meerten is an investor who writes on financial matters here and on Financial Tides. Please leave a comment below or email JimVanMeerten@gmail.com
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Investors are hoping the chain can emulate the rapid growth of Chipotle Mexican Grill.
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