Good Evening,
Today was another day of give and take and yes, we’re still in the zone… The S&P 500 moved up to resistance at 1890 and was repelled, putting us right back into our trading zone between 1840 and 1890. Let’s look at things and try to determine if the market will take another shot at breaking that overhead resistance….
Stocks: Nasdaq on 3-day rally
The days action left us with the following signals: C-Buy, S-Neutral, I-Buy, F-Buy. We are currently invested at 08/G, 92/F. Our allocation is now -3.73% on the year not including today’s results. Here are the latest posted results:
| 04/30/14 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.3982 | 16.2104 | 24.4935 | 33.7274 | 26.1468 |
| $ Change | 0.0010 | 0.0403 | 0.0743 | 0.1982 | 0.0940 |
| % Change day | +0.01% | +0.25% | +0.30% | +0.59% | +0.36% |
| % Change week | +0.03% | +0.13% | +1.12% | +0.65% | +0.95% |
| % Change month | +0.20% | +0.90% | +0.75% | -2.47% | +1.51% |
| % Change year | +0.78% | +2.98% | +2.59% | +0.17% | +2.28% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.0233 | 22.163 | 23.8939 | 25.3163 | 14.3491 |
| $ Change | 0.0157 | 0.0457 | 0.0628 | 0.0770 | 0.0483 |
| % Change day | +0.34% | +0.09% | +0.21% | +0.26% | +0.31% |
| % Change week | +0.84% | +0.23% | +0.53% | +0.67% | +0.75% |
| % Change month | +0.32% | +0.31% | +0.39% | +0.37% | +0.32% |
| % Change year | +2.03% | +1.23% | +1.69% | +1.85% | +1.94% |
SPY is still struggling below the resistance zone.
It’s been day to day on whether it is best to be in equities or not. The last few days have gone to equities. Several days before tha,t bonds and cash worked better. Lately, it has really depended on what time of day you check the market as to whether you are up or down regardless of where you are invested. The bottom line is that this market acts an awful lot like it is putting in a top. I still favor a deeper correction sometime in May. Either way, I’ll do what the charts tell me, but I will be mentally prepared for a correction. That’s all for tonight. May God continue to bless your trades.
Have a nice evening!
Scott
