After a rough start Monday, the S&P 500 made a steady climb the rest of the week. I thought 
for sure that I would be pulling my retirement account monies out of the C and into the G, but not so. We actually moved back above the 50 week MA but we still have work to do. The RSI is still below 50 at 49.546 but it is close. The entire trading bar for the week needs to clear above the 50 week MA and I would be a lot happier. Some good news, once again we approached the 104 support point and bounced off. What will next week bring? If I knew that, I would be a rich man. All we can do is read our charts and make moves based on that information.
The Small Cap index followed the same basic pattern as
the S&P, but where the S&P shows some weakness, the Small Cap is stronger. We are 26 points above the 50 week MA and the RSI is almost 3 points above 50. We not approaching nor have we gotten close to crossing the 1st major support point. All in all, the Small Cap is in pretty good shape.
The European Index final made some positive moves to the upside this week, but not enough to start thinking about investing here. We are still below the 50 week MA and the 1st major support point and the RSI is almost 8 points below 50. There is a lot
movement to upside that needs to be done here and I’m not convinced that it will happen soon. I zoomed this chart in a bit so you could see a little more detail.
TSP Distribution:
40 – C, 40 – S, 20 - G
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