We had another good week on the markets and the only drag was Bonds. Monthly moves are up 2.33% YTD. Good but not great. I’m still catching up.
The S&P 500 just kept on marching higher this week and the only day that it stalled was Friday. Still up almost 1.50%. Everything thing here looks scary good to continue also. Volatility is down and the DMI is spread and if the blue line starts to rise, we good be establishing a long term trend. We need the blue line to rise above red. Look at the bottom of the chart. We broke out hard and fast this time above the old resistance line and now we are hitting alltime highs. Life is good. The million dollar question is will it continue? If only we could predict that we could all retire rich. For now we watch and ride the trend higher.
The Small Cap burst of the gates Monday and Tuesday, but the rest of the week it was flat. Nice gain, but I didn’t like that movement. I would prefer that we just had gradual up days in small chunks. We are making YTD highs here but we still have 76 points to go before all times highs are reached. So we still have a lot of room to run here. We watch and ride the trend.
The International had the best return this week but it is still an overall mess to read. Sure would like to have those gains, but timing them without losses is almost impossible using the TSP. I see no reason yet to invest here.
Bonds had the worst week that it’s had in 2 or 3 weeks. Price did fire a a sell warning by closing below the red CBL line Friday. Price is still above the 50 day ma and monthly, so I only put a hold on the daily buy. The DMI at the bottom of the chart is indicating that trend might be changing to the downside. Brightside is that we have a bull flag formed in price and we are still above trend and 50 day, so continuation of the uptrend is likley. We still have to wait and hold here.
Conclusion: After the last 2 weeks of higher prices, it would not surprise me at all to see a sell off next week. I see no major changes in my holdings or setup happening this month based on what i see half way through the month of July.
No comments:
Post a Comment