The C, I, and F daily charts all look safe and I see no real reason to talk about them. The monthly charts were all talked about in the last blog post, so we all know every index is a buy monthly. The Chart I want to discuss it the daily chart for the Small Cap index. It has been in a decline since March 8th and it appears to be attempting to make a recovery ever so slowly. The horizontal green line is the CBL buy line and it just happens to coincide with that pivot low at $1014. What we need to see is a closing price above $1014 and then follow through the next day. That means holding above $1014 at least through 11:30am the next day. If that happens, then maybe I will get off this conservative distribution and go back to my 50-50 C& S.
Below I’m going to show you the numbers for last June and the ending monthly numbers for last June. Pretty damn ugly and lets just hope we do not get a repeat performance.
Just look at that June 2013 column. Ugh!!
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