Sometimes in the market there is just not a lot to say and this is one of those weeks. I was really looking for a pull back this week because of the huge move the week prior. Tuesday and Wednesday we just treaded water and then Thursday we got another big move up, followed Friday by a big move down. I listened to a little news on Friday out of boredom, but it sounded like the same ole re-hash and flipped it off. The new up trend line drawn on the latest pivot lows put the current price so far above the trend that it looks scary. I still believe we need a little pull back to be healthy and then continue up. We ended the week up for the C-fund, but the S-fund was the winner at 1.21% gain for the week.
The two charts above are the S-Fund and I-fund and there is just a couple things to say about each. The S-fund is in a scary steep climb and I’m sure that it will not be able to maintain such a fast rise. It is also approaching the highs that will act as resistance and that is always a sign of concern. If the market pulls back next week, the S-fund will make a higher pivot high and this is healthy. The next chart is the I-fund and if you can find a reason to put any money in this index, you’re a better chart reader than me. The only reason to be here is strictly a gamble or bet that it will reverse.
Conclusion: I see no reason to make any moves this week unless your just trying to protect profits and get out because your gut says so. I have no argument for that. I’m still thinking that a pullback to $1295 area would be healthy for the market as long as it bounces from there and continues to rise. So I will make no changes Monday or any time soon based on the charts.
TSP Distribution: C-fund – 35%, S-fund – 35%, G-fund – 30%
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