I apology’s for the delay but I have been out of town of vacation since last Wednesday the 14th. Just by looking at the numbers above we had a very slow grinding week, but once again it’s looks to be about the Small Caps.
Just a quick peek at the Small Cap monthly shows we are still ok at this level. Now to the Daily
Last week I point out a zone of $973 - $965. The top of that zone is key because that is the last pivot low and I do not want to see a close below that. If that happens, I’m afraid that this index will falter more and bring the rest of the market with it. The Short term uptrend line on last week chart has been removed because it was a failure.
S&P 500 is making no money but is still safe with no warnings. It’s feels funny to make a new all time high last week here and to sound so negative. What a difference a year makes.
International is grinding higher ever so slowly, but higher is higher. No warnings and all safe here.
Bonds also just keep grinding higher and are helping me offset the dismal performance of the Small Cap. No warnings and all safe.
I’m sitting looking at the pre-market numbers Monday morning and it doesn’t look like we are going to have a great start to the week. Here comes the Summer time grind.
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