4 days of gains wiped out by 1 day of stock market puke!! Brightside? My 33% distribution saved the week and I was only down .05%. I think the International and Oil was the drag today. All based on what I saw in my charts and not the news. That stuff will drive you nuts. Do you want to hear an interesting fact and why the monthly moves win most times? Look at my gain or loss for the year and what do you see? Negative 4.63%. Do you know if I followed my own advice and made of the monthly moves for 2016, I would only be down .18%. The monthly moves actually had a gain until todays numbers were turned in. Why I do what I do sometimes is beyond me. Since February, I have been making monthly moves by the rules.
The S&P 500 peeked above the overhead resistance line this week and looked to be on it’s way. Friday that came to a screeching halt. Let’s see if next week the fight will be back on and price will get back above.
Same holds true of the Small Cap, put up a good fight but closed right back on level with resistance. No warnings but we need price to continue higher next week.
The International took it directly on the chin Friday. Closed below the 50 day moving average and broke below the short term uptrend. That hurts and I had to out a daily hold on this index. Just when I thought the I-fund was ready to take off, it gets it’s ass kicked hard on one day.
Bonds to the rescue. They restarted there climb back uphill and helped save my week from a bigger loss. The DMI spread at the bottom of the chart is looking awesome for a long term uptrend.
Conclusion: 1 day does not make a market or a year. We take the day and just mark it up as a bad day. What we look for is trends and right now, the C,S, and F have established uptrends. The only other issue that I saw this week that was a little bothersome was the big spike in volitility. We sit back and watch what happens next week.
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