Things are starting to get ugly. S&P 500 fired warning number 2 closing below the 50 day moving average. Ugh! The last line of defense is the uptrend line. The range to watch tomorrow till Friday is $1662 -$1665. A one day close below that range would mean a sell the following day based on price movement.
The Small Cap had a bad day, but is still completely safe. No warnings.
The International broke my support line, but still no warnings yet.
So the C-fund is under extreme stress and a bailout almost looks emminate. The S and I for the moment are safe. For all the L-fund investors, still hold because you really need the C, S, and I to all fall to get a bailout signal. Something needs to give soon, or we will all have to bailout.
Last little note, if your a long term investor and are watching the monthly charts, what are you reading this for. Come back Novemeber 1st when it is time to make a new decision. For now, you stay invested. :)
Keeping my face away from the news. If you want to watch my face wrinkle up, come find me and start telling me about what you heard on Bloomberg or CBNC. Errr.
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