Ok, this week is more than likely going to be a loser week for most indexes, but after today's give back of Wednesday up day, we are still safe. The S&P and Small Cap are still inside their Bull Flags and above first warning level CBL's. I agree, I'm spoiled and I like to see things go up at least a little every day, but in the real world that doesn't happen.
The International Index might be in trouble again because it closed very close to the CBL, Uptrend line, and 50 day moving average. Yes that point on that chart is converging and it is not looking good as of today.
Tomorrow is going to interesting because I know that in my personal stock trading that I may have to start selling a few of my positions because they are eroding and eroding fast. We could also get a sell signal on the International and warnings on the S&P and Small Cap if we have a down day tomorrow. World markets as of 10:20pm tonight look weak. The over all daily movement on our markets also looked really weak. It's as if the buyers went on vacation.
Lastly, Bonds are once again hinting at a buy signal but hasn't fired a signal yet.
One more note, I will be out of town most of the weekend, so I may not get to the Weekly update until late Sunday night. Have a good weekend.
Below in this order are, S&P 500, Small Cap, international, and Bonds.
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