The S&P 500 by far had the best week and is our only index that is not in trouble. Not only is the S&P not in trouble, there are no warnings either.
The Small Cap is a different story than the S&P. The good news is that we did form a high pivot low. The bad news is. Friday we gave a lot back. So that higher pivot low might actually fail if higher prices do not return come Monday. More bad news is that CBL and 50 day moving average both got violated Friday so warning 1 and 2 are back on. The 3rd and finally signal level will be $1026. If that break, a sell signal will be fired.
The International is still trouble and is still on the brink of firing a sell signal on the daily chart. As you can see on the chart, we also keep making lower pivot highs. If we keep making lower pivot highs, there will be no hope to stay in this index. A reversal is due now.
Bonds on the daily chart are still a sell. Nothing changed here this week except it appears that we started a sideways churn. This could be an indication of a bottom.
Conclusion. If you’re in the C, you are golden at the moment. The S is under strain and has to be watched. The I fund is under even more strain than the S, and needs to reverse or bailing out is going to be your only option. F is a sell.
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