Not a lot to talk about this week except for the that fact the S&P 500, Small Cap and International all created a pivot low. That’s the good news because it indicates that price should have a short term reversal to the upside. Short term could be 1 day. Bad news is that all pivot lows on each chart was a lower pivot low which indicates a down trend. The Plan I had last week to play the $1870 support line worked on the day of entry, but collapse on Wednesday. As of Thursday and Friday, prices did recover. I didn’t make the move Tuesday, only because I couldn’t get to a computer. I’m still 60% C and 40% G, so I’m still at risk. I was going to throw that last 40% at the C, but it wasn’t meant to be. The S&P 500 is above the support of $1870 and I would still use that as your bailout point. Those that took the move might have just lucked into a good move. So below is the charts for all 4 indexes, but I really do not have much to add to them.
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