Before I get started, it would not surprise me one bit tomorrow if we got a little rally in price since the S&P is down 2.97% so far for the week, Small Cap down 3.88%, International down 2.95%, and Bonds up .03%. Not a lot to be happy about with those numbers. I made the move out of Small Caps and directly into Bonds. I didn’t touch the C-fund yet because it isn’t quite a sell, but it damn close. If we do get a pop up tomorrow, it will allow me to get a little back that I lost today and still feel somewhat safe.
Ok, if this turns out to real major pullback and we will not know for a bit, it should pullback a minimum of 5-10%. That’s ugly but if you look at the numbers so far this week, we are only 1.12% away from those levels now. Wow! The S&P is only 2.03% away.
The Small Cap above shows the confirmed sell as of today. It also shows the next two support levels that you would expect price to pause or reverse. A failure of support is bad.
The S&P 500 and International fired their first warning shots today and I would not be a bit surprised to see a sell signal printed tomorrow. If that happens, then it would have to be confirmed Monday. Looks grim to me.
Bonds still look safe.
I’m not going to spend a lot of time here tonight, because weekly numbers are tomorrow. Have a good night.
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