05/23/14

 

Good Evening,
The S&P 500 set another record with it’s close of 1900.53.

“Investors are hoping to end the week on a high note before hitting the beach and barbecue for the long weekend. Here’s what you need to know before kicking off the holiday: The Dow, S&P 500 and Nasdaq all rose in the afternoon. The S&P 500 is trading a few points above the 1,897 record closing level set last week, so if the gains hold, the index will close at another record. It’s also within striking distance of its 1,902 intraday high. It’s hit the 1,900 mark a few times this afternoon.

So far, it’s been a good week on Wall Street, with all three indexes in positive territory, lead by the Nasdaq. On the international front, traders were keeping tabs on geopolitical developments. Speaking Friday at an international economic forum in St. Petersburg, Russian President Vladimir Putin warned of a “dangerous civil war” in Ukraine as fresh violence erupted ahead of this weekend’s presidential election. Still, European markets mostly finished in positive territory. In Asia, shares of Thailand’s main index slipped 1% and the baht dipped against the dollar after Thursday’s coup. Fitch said any further escalation in political instability could cause lasting damage to the economy. Other Asian markets ended with gains.”
The week’s trading left us with the following signals: C-Buy, S-Buy, I-Neutral, F-Buy. We are currently invested at 08/G, 92/F. Our allocation is now -3.09% on the year, not including today’s results. Here are the latest posted results: 
05/22/14
Fund G Fund F Fund C Fund S Fund I Fund
Price 14.4188 16.3249 24.6569 33.6834 26.281
$ Change 0.0010 -0.0117 0.0616 0.2298 0.1225
% Change day +0.01% -0.07% +0.25% +0.69% +0.47%
% Change week +0.04% -0.08% +0.82% +0.95% +0.18%
% Change month +0.14% +0.71% +0.67% -0.13% +0.51%
% Change year +0.92% +3.71% +3.27% +0.04% +2.80%
  L INC L 2020 L 2030 L 2040 L 2050
Price 17.0663 22.2419 23.9885 25.421 14.4112
$ Change 0.0127 0.0445 0.0624 0.0777 0.0502
% Change day +0.07% +0.20% +0.26% +0.31% +0.35%
% Change week +0.16% +0.35% +0.44% +0.51% +0.57%
% Change month +0.25% +0.36% +0.40% +0.41% +0.43%
% Change year +1.48% +2.05% +2.26% +2.36% +2.47%
Today’s S&P close made two days that its chart has finished above the trading zone that was established in February. Do I think it will keep running? No, and if so, not far. Today’s volume was pathetic which tells me that it’s a holiday week and not to put much stock in the run. The Bulls will say that we are in the midst of another V-Shaped bounce. After all, almost all of these V-Shaped moves that we have experienced over the past three years started on low volume. Volume really didn’t matter they say. Well here’s what I say: This is not the same market we had for the last three years. Approach it with caution… That’s all for tonight. We’ll continue to read our charts and trust our God. Have a nice weekend and don’t eat too much barbecue! God bless, Scott8-)

 



Written By

Scott Grimes

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