Good Evening,
My what a difference a day can make. Consolidation??? A sell off???? Probably not, but we’ll have to watch things closely as the threat is always there. I have often said topping is a process. It doesn’t just happen all at once. Therefore, any time the market changes direction, even for the short term, we must raise our level of vigilance just in case. That’s our style of trading. We take action when it’s needed. Today was a tough day, but that’s all so far and that’s really all I am expected at this time so hang on to the saddle, we’re going to ride this bronco as long as we can….
NEW YORK (CNNMoney)
So much for another record-setting day. The stock market’s early gains evaporated like Italy’s chances in the World Cup.
The day’s selling left us with the following signals: C-Buy, S-Buy, I-Neutral, F-Neutral. We are currently invested at 25/C, 75/S. Our allocation is now -3.62% on the year. Here are the latest posted results:
| 06/24/14 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.4487 | 16.3597 | 25.4476 | 35.2185 | 26.8985 |
| $ Change | 0.0009 | 0.0243 | -0.1620 | -0.3289 | -0.0492 |
| % Change day | +0.01% | +0.15% | -0.63% | -0.93% | -0.18% |
| % Change week | +0.02% | +0.17% | -0.64% | -1.03% | -0.36% |
| % Change month | +0.15% | -0.28% | +1.51% | +2.86% | +1.14% |
| % Change year | +1.13% | +3.93% | +6.59% | +4.60% | +5.22% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.2034 | 22.6295 | 24.5154 | 26.0638 | 14.818 |
| $ Change | -0.0171 | -0.0620 | -0.0885 | -0.1112 | -0.0713 |
| % Change day | -0.10% | -0.27% | -0.36% | -0.42% | -0.48% |
| % Change week | -0.10% | -0.30% | -0.40% | -0.48% | -0.55% |
| % Change month | +0.42% | +0.89% | +1.13% | +1.31% | +1.46% |
| % Change year | +2.30% | +3.83% | +4.50% | +4.95% | +5.37% |
Here’s the C Fund courtesy of stockcharts.com:
The chart remains in good technical shape. It can absorb quite a bit more selling before any serious technical damage will occur so we’ll consider it consolidation for now.
One day of selling does not a trend make so don’t panic yet. Every time we’ve been defensive this year we’ve took a hit so we’re going to hang tough as long as this chart we’ll let us do so. It just has not paid to do other wise for some years now. Continue to pray and God we’ll guide our hand as He always has. Give Him the praise!! Have a great evening.
God bless,
Scott
