Good Evening,
Bonds where off just a little while stocks managed to grind out moderate gains after the dip buyers stepped in to pick them up. I am happy with the day though as God blessed us with some good gains on the street in precious metals and commodities. There’s always a way to beat the Dow if you put your mind to it!
Wall Street rallies thanks to tech stocks
The day’s action left us with the following signals: C-Buy, S-Buy, I-Neutral, F-Neutral. Our current investment is 08/G, 92/F, but the time has come to re-balance our allocation. I will do so after I complete this newsletter. Our allocation is now -3.26% on the year. Here are the latest posted results:
| 06/17/14 | Prior Prices | ||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.4424 | 16.292 | 25.3365 | 35.2369 | 26.6981 |
| $ Change | 0.0008 | -0.0423 | 0.0556 | 0.2579 | -0.0148 |
| % Change day | +0.01% | -0.26% | +0.22% | +0.74% | -0.06% |
| % Change week | +0.02% | -0.19% | +0.30% | +0.92% | -0.26% |
| % Change month | +0.11% | -0.70% | +1.06% | +2.91% | +0.38% |
| % Change year | +1.09% | +3.50% | +6.12% | +4.65% | +4.43% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.1782 | 22.5674 | 24.436 | 25.9724 | 14.7609 |
| $ Change | 0.0059 | 0.0238 | 0.0356 | 0.0469 | 0.0305 |
| % Change day | +0.03% | +0.11% | +0.15% | +0.18% | +0.21% |
| % Change week | +0.06% | +0.12% | +0.17% | +0.20% | +0.23% |
| % Change month | +0.27% | +0.62% | +0.80% | +0.95% | +1.07% |
| % Change year | +2.15% | +3.54% | +4.16% | +4.58% | +4.96% |
The I Fund generated a neutral signal today likely caused by some volatility in the foreign markets due to the situations in Iraq and Ukraine. Here’s what the SPY looked like today. As usual our charts are courtesy of the fine folks at stockcharts.com. Analysis is by Decsionpoint.
“The trend may be sloping up, but resistance at the top of the ascending wedge is holding. The PMO is making an effort to slow down and avoid a negative crossover.”
Conclusion:
“The market was relatively quiet today as most investors appear to be waiting for the minutes of the FOMC meetings to be released. While price has consolidated and even trended somewhat higher, indicators were able to move out of overbought extremes which is positive, but they are starting to turn up before really getting oversold. It would’ve been ideal had indicators moved to oversold, but now there is breathing room for them to support more rally. The bearish ascending wedge is still in play and price hasn’t moved out of it since last week’s breakout, so a bearish outcome is definitely possible.”
I took that peek around the corner and the coast is clear for a short-term run in equities. Stand by for the next E-Mail with our rebalanced allocation. Have a nice evening and may God continue to bless your trades!
Scott
