Wednesday through Friday last week the S&P 500 made some very nice moves back to the upside. Did it change things? Not yet. On the daily chart the green CBL is chasing lower prices, so the first buy level is very close now @ $1961. The 50 day moving is still falling and S&P price needs to get above the $1987, which is the current price of the 50 day. The bright spot here is that we did not create a lower pivot low and it may be the support we need to finally reverse this negative trend.
The Small cap did ok the last 3 days of the week, but not as well as the S&P. Unfortunately, a lower pivot low was created here, so no support to stop lower prices in the future. The downtrend is still locked in and nothing looks good here.
Ditto with the International index. Low pivot low was made and no support shown to stop lower prices. These two indexes, Small Cap and International do concern me when it comes to showing confidence in the S&P 500.
Bonds are on a slow grind higher and is the only index, other that the G-fund that is currently making money. If the current up tick in prices continue, the long trend down trend will break very soon.
Your Personal Investment Performance (PIP) for the past 12 months ending 09/30/2015 is -0.69%.
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