06/16/14

Good Evening,

The market really didn’t do much today which is good considering the potentially disrupting news out of Ukraine and Iraq. With little effect from those problems it seems to be in a holding pattern ahead of the FED Meeting which concludes on Wednesday. Most specifically traders will be looking for news on interest rates and further reduction in the purchase of bonds. All in all, things were pretty neutral today. Although, we were able to make a little money in the energy sector on the street. It sure would be nice if the Thrift Board would include at least some sector funds… Oh well, guess you all will have to wait until you retire. Here’s what happened today…

 

The worsening crisis in Iraq failed to spook Wall Street on Monday.

 

The day’s action (or should I say lack of action) left us with the following signals: C-Buy, S-Buy, I-Buy, F-Neutral. We are still invested at 08/G, 92/F. Our allocation is now -3.09% for the year not including today’s results. Here are the latest posted results:
06/13/14
Fund G Fund F Fund C Fund S Fund I Fund
Price 14.4389 16.3237 25.2597 34.9165 26.7689
$ Change 0.0009 -0.0151 0.0794 0.1105 -0.0601
% Change day +0.01% -0.09% +0.32% +0.32% -0.22%
% Change week +0.04% +0.00% -0.63% -0.41% -0.26%
% Change month +0.08% -0.50% +0.76% +1.98% +0.65%
% Change year +1.06% +3.70% +5.80% +3.70% +4.71%
  L INC L 2020 L 2030 L 2040 L 2050
Price 17.1683 22.5396 24.3955 25.9194 14.7276
$ Change 0.0059 0.0174 0.0247 0.0312 0.0194
% Change day +0.03% +0.08% +0.10% +0.12% +0.13%
% Change week -0.07% -0.23% -0.31% -0.36% -0.40%
% Change month +0.21% +0.49% +0.63% +0.75% +0.84%
% Change year +2.09% +3.41% +3.99% +4.37% +4.72%
Here’s what the SPY looked like today.
Charts by StockCharts.com, Analysis by Decision Point.
Price, even at its highest, was stopped by overhead resistance at the top of the rising wedge. The PMO is starting to slow its descent, but is headed for a negative crossover right now.
0616
“The weekly chart won’t finalize until Friday, but I wanted to point out on this chart that price last Friday turned back after resistance was hit the previous week.”
06162
“Conclusion: With the FOMC meetings this week, we should expect a mostly neutral market. Indicators have cleared or are clearing overbought readings even while the market hasn’t really corrected which is bullish. When the indicators are oversold it usually signals that the price bottom is nearing.”
We’ll stay in bonds for now. We might peek around the corner to see if the coast is clear in the market, but it will only be for a short run and only if all the stars align…. Keep praying, this is a difficult market to navigate! That’s all for tonight. God bless and have a great evening.
Scott8-)

 

 



Written By

Scott Grimes

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