Apparently the politicians in this country do not mind screwing with the American public, markets, and doing everything that is possible to embarrass us Worldwide. I could go on and on about as each day passes, it sometimes shames me to call myself an American. Is this how the greatest power in the world is suppose to act? Is this the example that we layout to world an preach to them to be like us? Really? Then you wonder why when we try to change governments into to thinking like us it fails. That is enough of a rant for now, but let’s look at the situation on the markets.
The chart above is the S&P500 and we are now sitting just above where we entered and approaching $1295 in a hurry. Closing below $1295 is basically the point of no return and I will have to bail. I know that as soon as I do, they will resolve the debt ceiling and the markets will zoom. But is it worth the chance? Nope! So I will be watching closely tomorrow and there is a chance I bail. Watch for a before 11:30am post.
The chart on the right is the S-fund and we have a broken uptrend. My advice at this point is to bail until it reverses. I will likely pull my money out of this tomorrow if it continues south. The chart on the right is the I-fund and it shows a failed breakout.
I will make my decisions in the morning and post prior to 11:30am.
No comments:
Post a Comment