Sorry for the delay on my post but it was wedding weekend. Lot’s of folks visiting and lot’s of stuff to do.
This past week we did have a 1.36% gain on the S&P 500 but that was just a drop in the bucket on reversing this current pullback. We are still slightly below the 50 day moving average. We are still holding above the short term uptrend line and now price has a goal or mission. On the chart above I drew a key point. That point is the last lower pivot high which pretty much put us in a short term downtrend. We really will need price to close above that point before it reverses down again in order to reverse these lower pivot highs. That point is $1669.51 or $1670. So basically, I watch and hold this week in the C-fund.
The Small Cap is in a little better shape then the S&P 500. Price is actually above the 50 day moving average again and is closing in on the last important CBL. The key point here is $899. We also need that key point taken out so reverse the trend of lower highs. Conclusion, I hold and watch the S-fund.
The International Index looks a little confusing but I have a lot a little things that I ‘m watching here. The thing that should interest you the most is the key point which is $61.58. We need to take out that key point. Some other points to note is that price did close above the 50 day moving average and recaptured the old CBL. Other good news is that this index gain 3.38% this week and that was nice. We are still a hold and watch here.
It doesn’t take a rocket scientist to see above that Bonds and or the F-fund is not the place to be. This is another reason why I personally do not bottom fish and have to have a reason to invest. Bonds made a new low this week and fell outside the channel that has been running for a few week s now. Down trend is still in effect and well established.
Conclusion: If your invested in the C, S, and I, hold and watch. Stay out of Bonds. If your looking for an entry, those key points are as good as any for entry points.
Hope all had a great weekend.
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