Good Evening,
There was more selling today which was not a surprise. It goes right along with the scenario that I described yesterday. There’s no way to know for sure what the end game will be , but my bet continues to be on a low volume pop after a less than 10% dip. So here’s what CNN money had to say about it:
The day’s selling left us with the following signals: C-Neutral, S-Neutral, I-Neutral, F-Neutral. We are currently invested at 25/C, 75/S. Our allocation is now -3.53% for the year. Here are the latest posted results:
| 07/10/14 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.4629 | 16.4093 | 25.6639 | 35.1616 | 26.4832 |
| $ Change | 0.0008 | 0.0157 | -0.1067 | -0.2241 | -0.2616 |
| % Change day | +0.01% | +0.10% | -0.41% | -0.63% | -0.98% |
| % Change week | +0.04% | +0.54% | -1.01% | -2.65% | -2.57% |
| % Change month | +0.06% | -0.12% | +0.29% | -1.68% | -1.40% |
| % Change year | +1.23% | +4.24% | +7.49% | +4.43% | +3.59% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.2228 | 22.6406 | 24.5216 | 26.0658 | 14.8123 |
| $ Change | -0.0185 | -0.0706 | -0.0990 | -0.1217 | -0.0797 |
| % Change day | -0.11% | -0.31% | -0.40% | -0.46% | -0.54% |
| % Change week | -0.27% | -0.85% | -1.13% | -1.33% | -1.54% |
| % Change month | -0.05% | -0.25% | -0.36% | -0.45% | -0.53% |
| % Change year | +2.42% | +3.88% | +4.53% | +4.96% | +5.33% |
Here’s what the SPY looked like today.
“Price hit support at the bottom of the short-term rising trend channel and then bounced up. The PMO is still falling, so momentum did not shift on the price rebound off support.”
“Conclusion: Price fell today, but when it hit support at the bottom of the short-term rising trend channel, it rebounded back up. I think this is positive, but the top of this skinny trend channel isn’t very far. While ultra-short-term and short-term indicators are in a position to support more rally, intermediate-term indicators aren’t.”
The majority of the charts I looked at today held above their 20 EMA’s, which means that we’re still in an uptrend. The uptrend is under a little pressure, but the key word is little at this point. It’s going to take a lot more selling to generate sell signals on our equity based charts. All of this is nothing we haven’t seen numerous times over the last several years, so we’ll continue to follow our charts and get out if and when they say to get out. That’s all for tonight. Have a nice evening and don’t worry about the selling. Just trust in God and He will bring us through this year as He has all the others.
May He continue to bless your trades.
Scott
