01/02/15

Good Evening,

Did I get that date right??? OK, I had to check as I usually miss it a time or two when the new year starts! Gosh, did I say that I was glad that 2014 is over? Today is technically the new year, but the new year in trading really starts on Monday. Today was a low volume day that included a lot of tax selling and portfolio adjustment on low volume that was easily pushed around by the machines. So the bottom line is that you can’t take much from today’s action. The true trading will start when all the market players return from the holiday. We were actually in the right place today at 100/G. The G Penny again beat everything but the F Fund, which made another solid gain. Our AMP allocation bested the big three again with a small gain of +0.061%. In comparison, the Dow rose +0.06%, the S&P 500 dropped -0.03%, and the Nasdaq fell back -0.20%.

Euro and oil resume fall; stocks slip on weak data

 

The day’s action left us with the following signals: C-Buy, S-Buy, I-Sell, F-Buy.  As of the close of business today, we are invested at 34/C, 66/S. Our allocation is now 0.00% on the year not including today’s results. Here are the latest posted results:
01/01/15
Fund G Fund F Fund C Fund S Fund I Fund
Price 14.6165 16.8017 27.1655 36.2964 24.2183
$ Change 0.0000 0.0000 0.0000 0.0000 0.0000
% Change day +0.00% +0.00% +0.00% +0.00% +0.00%
% Change week +0.00% +0.00% +0.00% +0.00% +0.00%
% Change month +0.00% +0.00% +0.00% +0.00% +0.00%
% Change year +0.00% +0.00% +0.00% +0.00% +0.00%
  L INC L 2020 L 2030 L 2040 L 2050
Price 17.4508 22.8987 24.8062 26.379 14.9586
$ Change 0.0000 0.0000 0.0000 0.0000 0.0000
% Change day +0.00% +0.00% +0.00% +0.00% +0.00%
% Change week +0.00% +0.00% +0.00% +0.00% +0.00%
% Change month +0.00% +0.00% +0.00% +0.00% +0.00%
% Change year +0.00% +0.00% +0.00% +0.00% +0.00%
Oh yeah, a clean slate. Did I say how glad I was the 2014 is actually over?

Here’s what the SPY looked like today. (Chart and analysis courtesy of stockcharts.com)

Price has pulled back since hitting overhead resistance. Based on the nearing PMO SELL signal and bearish ascending wedge, I suspect this will become more of a correction than pullback. Volume on the $SPX has been slowly rising during the recent price decline which is also bearish.

12
Conclusion: Indicators are bearish but ultra-short and short-term indicators are hinting at a small selling exhaustion being reached soon. However, intermediate-term indicators are very bearish, telling us that the big picture is negative.
Here’s to 2015. The picture looks like we could have some downside in the intermediate term. However, our charts show buy signals for the C, S, and F funds. We will stay invested in one or all of those funds until the charts tell us different. After last year’s pattern, which is still in play, we have no choice but to bend without breaking and that means giving up more ground than we would like before we sell. That’s all for tonight. May God continue to bless your trades! Have a nice weekend.
God bless,
Scott8-)

 



Written By

Scott Grimes

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