What can we expect next week?
As can be seen from below BPNYA Index chart, especially after our BUY signal, markets have managed to sustain the rally. Earnings season is in full swing and most likely the market should continue its momentum higher unless US debt issue manages to derail this train. This momentum should last till mid Aug after which the market might run out of the steam as earnings season will be over by then and economic/global events will takeover center stage.
401K/HSA/College Fund: If you are already invested then "hold" might be your best strategy until we see a SELL signal.
Traditional IRA/Roth IRA: If you are already invested then continue to "hold" your position or you may want to initiate new position depending on the market action this week.
In any scenario, our history teacher will guide us if things go BAD. No need to jump of the cliff right now...