Charts for the TSP as of the close 4/10/15

The S&P 500 had the best week this past week of all of our indexes, but it was also the only one with warnings on. Price is still within the channel that is slowly brewing for a breakout in one direction or the other. Monday, price ripped higher and closed above the 50 day moving average and that ended that warning. Then Thursday, price closed above the last CBL sell line and than ended that warning. I still think the S&P 500 is under a watch but as far as buy signals go, it’s a buy on all three levels, daily, weekly, and monthly.

    The Small Cap index had a good week. Price broke out the bull wedge and slightly continued higher. There are no warnings on this chart either.

   The International Index is just churning away to the upside. No warnings to deal with here, so we just watch.

   Bonds is the only index that slightly suffered this week. Down just a bit. Still have no warnings, so all is good.

Conclusion here is that all is good at the moment and there is no drama on or in the markets. In the background, there is a lot of chatter about being at all time highs and a major drop is coming. They have been squawking this talk since the first of the year. Eventually if they keep calling it they will be right, but in the mean time, let’s keep riding price higher and when the charts say get out, we get out. A chart has no emotion or news, just price, so it makes our job so much easier. Last week was a good week, let’s hope we get more grind higher next week.

This is the end of the TSP portion. If your interested in Oil or may trade in Oil, read on.

Getting in at the bottom? Everyone talks about doing it but you have to have a plan. If you are an expert and can watch it daily all day long, you could really dig down deep and you 1 minute, 5 minute, and 30 minute charts to find your spot. Me, I watch daily, weekly, and monthly. Monday, the USO etf fired a buy signal. Tuesday it confirmed that buy signal. I explained it all in detail in this POST. Since Tuesday, price fell back below the 50 day moving average and stayed below through Thursday. Did that mean sell? Nope, as I explained in the OIL buy post we set a sell CBL and if that happens, we get out and wait for our next opportunity. Remember, this is as early as you can get to bottom fishing and hoping to have an entry but protect against major losses. How early is this call? Well the Weekly and the Monthly are likely 2 to 3 months away at best in firing a buy signal unless price rockets over night. Look below at the weekly and monthly and you will see just how far away we are.

Weekly is not even close. The best thing that I see is that the green moving average line has finally stopped going down and is actually turning up.

Monthly we have a minimum of a $6 move up before we get that buy signal. So we are still a long way away from a buy here also.

So you can now see that using the daily chart we can get in as close to the bottom as possible and still have some built in safety for losses. I’m accumulating shares of UWTI, which trades 3X faster than the USO, so the risk are much higher. I’m using the USO for my signals and buying UWTI for my long term investment. I want to show you one more thing that I didn’t put together. One of the stock guys that I follow explains in his way why the bottom in oil might be here now.

CLICK HERE

So there you have it. Is anyone investing here? Drop me a reply on Facebook if you are. I’m curious if there are any followers.