All the drama in Washington is currently over and all they accomplished was pissing everyone off and then they did their normal, kick the can down the road. Sometimes it is embarrassing to call ourselves Americans because we are suppose to be an example of the best democracy in the world. That’s my rant so let me just give a quick over view of where I’m going.
The S&P 500 daily is right back where it was before all this drama began. I got out right the bottom because all my rules told me to. The monthly chart never ever got close to firing a sell, so with all this information and the temporary budget news out of the picture, it is time to put my last 40% back to work.
The Small Cap daily never fired a sell signal on the daily or monthly so I never bailed here. I’m still 40% invested in the S-fund. The question to me is do I put more here or throw the majority back into the C. The CBL that is being shown here needs and will be moved to a higher level at the end of the close today. The new level will likely be $919 which is 13 points higher than what is currently marked.
The International fund also never fired a sell on the daily or monthly chart so I’m still 20% invested here. The CBL will also be moved up tonight to $63.50 which is over a point higher.
So all three indexes if your looking at price and trend, are a go. The only two things that I see that are an issue is that we are back banging on all times highs. We are also approaching overbought areas. There might be a pullback from here because of the recent run up but because there is no overhead supply, price could just as well continue to run higher.
Conclusion, Mark is taking his 40% G money and putting back to work in the market. The hardest part of the equation for me, is where. Currently 40-S, 20-I an 40-G.
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