TSP daily charts of as 1/15/2017

This week we have at least two things to note, one at the end this week we get a new President, and two we are at current highs and resistant levels. What happens after next Friday is scary. What happens when you reach resistance is scary. Based on the monthly charts there is nothing to do here but wait, watch, and try to keep fear out of the decisions of investing. No one knows what the future holds and no one knows how these 2 events will affect stocks. 

 

The S$P 500 has not had an explosive or powerful move out of the bull flag like I was hoping for. Price has reached that $2280ish level and has just been meandering. Everything based on trend, volatility, and DMI all look good and one would have to assume next week we bust through to new highs. Next week is a short week because the stock market will be closed Monday in the USA in observance of Martin Lurther King. So Tuesday the watch will begin to see if price can break through to the next level. 

 

 

The Small Cap daily is at the same exact spot as the S&P in that short term overhead resistance has been reached. A punch through is required or there will be hell to pay. Nothing to do here but watch and wait. 

 

The International index has not reached it’s milestone of that major long term overhead resistance. But what it has done recently is make a new very short term high and it will produce a new pivot high. This is good for uptrend structure. Volatility is low and is falling. DMI looks good. Recently we had a weekly buy signal, so maybe the I-fund is turning a corner and a new uptrend is forming. We have another 15 days in January or 11 trading days to find out what the monthly signal is going to say. Getting in at the bottom would be fun, but getting in on a new long term uptrend run that is solid, is what we want. 

 

 

Bonds are still a no go. This week Bonds attempted to complete a daily buy but so far it has been rejected. It does appear that maybe a bottom is forming, but only time will tell on that fact. This could just be a pause before new lower prices begin. Either way, there is nothing to like here. Volatility is still high and the DMI lookd confused. 

 

Conclusion: We watch and wait.