01/07/14

Good Evening,

At last a day of solid gains in 2014. Praise the Lord, Hallelujah! May He give us many more.

Are the bulls back? S&P 500, Nasdaq notch first gains of the year

The day’s trading left us with the following signals: C-Buy, S-Buy, I-Buy, F-Neutral. Our current allocation is 42/C, 58/S. It is -1.19% for 2014 and can be tracked on the Auto Tracker Section at TSPTALK.com under the screen name KyFan1.

The bottom line is this: Regardless of what things look like on a short term basis, we are still in a solid uptrend and you never fight the trend. We may adjust our allocations within equities, but we will not exit equities until the charts turn over. Right now the 5 and the 20 EMA are solidly above the 50 EMA which is solidly above the 200 EMA telling us that we are still heading up. The other three indicators that our group watches also have strong buy signals. When I use the term “turn over” or “upside down” I am referring to the shorter EMA’s being on the bottom showing that a chart is trending down. That’s when the highs are lower and the lows are lower. That allows us to overlook the day to day market volatility and see whether we are heading up or down. In very general terms that’s charting. Of course it takes a lot of experience to look at all of the indicators to know exactly when to exit or enter the market. Also worth noting is that there are many patterns such as bull flag and cup and saucer that indicate if a chart is going up or down, but as far as general charting goes, you can do better than average using just the EMA’s. Well that’s enough technical analysis for tonight, just know that the more you do it the better it gets. It just takes experience. That’s all for tonight. Remember, it’s not what you make, it’s what you keep!
May God continue to bless you trades.
Scott8-)


Written By

Scott Grimes

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