This week was another good week for stocks, specially inside the S&P 500. Friday we confirmed a daily buy signal. So did I take it? No I didn’t. I will continue to stand down for now and continue to ride the F-fund for now. Another to note on the chrat is that no matter what happens next week, there will be a higher pivot high. Right now it is just a few points which means nothing in helping a new uptrend. We a few higher pivot lows and and higher pivot highs to make a change in trend. Right now, I’m just watching and waiting for real sign of a trend.
The Small Cap had a good week also and we have reached the levels that you would expect a breakout to the upside or a rejection to the downside. Price closed just below the 50 day ma. This means that we are getting close to a possible buy signal here. We should have news on this index early next week.
The International just kid of sat there and grinded this week. As of a matter of fact, it has been grinding for awhile now. I also would expect movement soon on this index because we are back to recent volitale levels.
Bonds also didn’t do a lot this week but the uptrend structure is still holding. This is still the best looking index we have.
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