TSP daily charts as of 4/22/2017 - Do we have a breakout?

I am still down for the month of April and this coming week is the last trading week of the month. Last year, I had a very small gain of .07% and I would take that over a loss anytime. The S&P, Small Cap and the International have been grinding in bull flags with a slightly downward slope for over a month now and are due a breakout. Is one of our indexes leading the way out? Which direction is it going? Let’s take a look. 

 

The Small Cap was leading us lower and had been in the bull flag the longest. It also had the largest loss so far for the month of April 2017. This week the Small Cap ripped up 2.07%. Still has a loss for April but did some major repair work. Also with this price movement, both sell signals were cancelled. Most important of all, is the fact that price broke up and out of the bull flag. Friday price gave a little back and gave me a little doubt that this might be a fake breakout. Next week we need to see price stay above my red CBL line and continue higher. For now, this is a positive for the markets and maybe we can start moving higher.

 

 

The S&P 500 was up almost 1% but to look at the chart we got more of the same. Still inside that bull flag and still grinding along. We did have 2 positive things to point at here. Price did get back above the 50 day ma and one of the sell warnings was cancelled. DMI still looks undecided and volatility is still high. Maybe next week the S&P will follow the Small Cap higher and into a breakout.

 

 

The International index is still in the wedge / bull flag. Wednesday it was starting to look a little grim because a sell warning was fired. By the of the day Thursday it was cancelled. The DMI is positive, but just barely. Volatility is still high and negative. Looking back at that wedge, it would seem to me that next week and breakout in one direction or the other is due. I will be watching closely. 

 

 

 

Bonds spiked to a year to date high and then proceeded to fade lower the rest of the week. Bonds are still the winner so far this month up almost 1%. There is a concern here because volatility jumped higher. DMI is still poisitive. It will be interesting to see if Bonds continue higher next week.

 

 

Conclusion: It is well past time for the C, S, and I to breakout and continue higher. The Small Cap seems to be showing the way. Let’s see what happens next week.