05/05/14

Good Evening,

Yet another intraday reversal and yes, we’re still in the zone.

 

Stocks finish strong after morning drama

 

 

The day’s action left us with the following signals: C-Buy, S-Buy, I-Buy, F-Buy. We are currently invested at 08/G, 92/F. Our allocation is now -3.48% on the year not including today’s results. Here are the latest posted results:
05/02/14
Fund G Fund F Fund C Fund S Fund I Fund
Price 14.4 16.2564 24.4585 33.8759 26.2247
$ Change 0.0009 0.0087 -0.0332 0.0758 -0.0161
% Change day +0.01% +0.05% -0.14% +0.22% -0.06%
% Change week +0.05% +0.42% +0.97% +1.09% +1.25%
% Change month +0.01% +0.28% -0.14% +0.44% +0.30%
% Change year +0.79% +3.27% +2.44% +0.61% +2.58%
  L INC L 2020 L 2030 L 2040 L 2050
Price 17.0297 22.1771 23.9134 25.3409 14.3643
$ Change -0.0008 -0.0050 -0.0062 -0.0063 -0.0043
% Change day -0.03% +0.00% -0.02% -0.03% -0.02%
% Change week +0.95% +0.27% +0.60% +0.75% +0.85%
% Change month +0.11% +0.04% +0.06% +0.08% +0.10%
% Change year +2.14% +1.27% +1.75% +1.94% +2.04%
As you can see we’re still in the zone (1860- 1890) with today’s close at 1884.66 for the S&P 500. There’s nothing really new to say or add. We still have a head and shoulders pattern which when executed is bearish, we have negative seasonality, and the market is extended. All that said, it looks like we could challenge resistance again at 1890. However, even if we break it, there’s just not enough support to take it anywhere. I still look for more downside during the month of May. Given those facts, I will stay allocated to the G and F Funds until #1 the market corrects or #2 I get a sell signal in the F. I know that we currently have buy signals in the C, S, and I funds, but the volume is weak and I just don’t trust them to make significant gains until they correct. That’s all for tonight. God bless and have a great evening!
Scott8-)

 



Written By

Scott Grimes

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