The S&P did a little settling this week and created a bull flag. Normal run for these things are 7-21 trading days and normally breakout to the upside. I still believe after this little pullback, prices will likely go higher.
The Small Cap still has not yet broken out of that long term downtrend. After the recent run up in price, the Small Cap has also formed a bull flag and should breakout to the upside.
The goods news for the International is that price is holding above the sell CBL line in red. Friday price jumped back above the 50 day ma also. The sideways grind is still on with no end in sight. This is a wait and watch index.
Bonds just to continuly grind higher. There is nothing to do but watch and ride this slow moving slug. Brightside is it is still paying me money.
Conclusion: Bonds are the winner again this week. I still believe the S&P and Small Cap will rip higher soon as they consolidate a bit more. Most of the time, bull flags break higher. We wait and ride.
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