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Perhaps the 50% retracement level will hold?
RSI today is suggesting that but I'm not convinced with price closing in the middle of the Bollinger Bands today. Thusday will be telling...
VIX Seasonality Shows a Strong Tendency in July
http://stockcharts.com/articles/dont_ignore_this_chart/2014/07/vix-seasonality-shows-a-strong-tendency-in-july.html
For the gent asking about the plan to buy within $80-85, I think it's likely to be filled as my short-term price target is the 61.8% retracement level.
I only have a free account so I don't have private message capability. BTW, PF on my annotated charts is my initials. :)
An Update on the Banking Index ... Watch what happens to banks ...
They say that an economy cannot flourish without healthy banks that are actively engaged in lending.
By their nature, banks are more conservative and they are supposed to be. But greed often turns bankers into speculators and safe practices are pushed aside.
So, it is in our interest to keep an eye on what is happening to the Banking Index. An updated 15 month chart of the Banking Index was posted this morning. When looking at it, note that the Banking Index has not made a higher/high yet ... in other words, the current level at label 3 is lower than the prior level at label 2. This poses a possible danger condition and that would be if the Banking Index never did make a higher/high and turned down instead.
The risk with that kind of move would be the formation of a "Head & Shoulder pattern". If such a pattern proves to be the case, then the implications would be for the Banking Index to have a very unpleasant pull back.
Please click on the link below for today's complete commentary and chart:
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm
Marty Chenard
My Daily View of Our Stock Fund Choices
If you are interested in seeing my daily T&A charts, here are the links:
1) S Fund
http://stockcharts.com/c-sc/sc?s=$EMW&p=D&yr=0&mn=6&dy=0&i=p39139875831&a=285087913&r=1404169491587
2) C Fund
http://stockcharts.com/c-sc/sc?s=$SPX&p=D&yr=0&mn=6&dy=0&i=p52300312360&a=285088433&r=1404169630248
3) I Fund
http://stockcharts.com/c-sc/sc?s=EFA&p=D&yr=0&mn=6&dy=0&i=p14136893759&a=357546388&r=1404169915539
hando, can you hear a bell?
http://stockcharts.com/articles/dont_ignore_this_chart/2014/06/rydex-bears-stay-in-hibernation-.html
YW BleeckerStreet
Update: Inflowing Liquidity levels and Institutional Selling levels ...
Inflowing Liquidity levels and Institutional Selling levels ... Both of these are important and work together.
Positive net Inflowing Liquidity is an up influence in the stock market, and what is happening to Institutional Investor selling levels can change or enhance the power of what net Inflowing Liquidity levels are doing.
In other words, down moving levels of Inflowing Liquidity with increasing Institutional Selling are a down influence for the market.
So, what happened yesterday with Inflowing Liquidity levels?
Well, Long Term Liquidity Flows had a small down tick (see today's posted chart) that was still above its trading range, and the Institutional Selling Activity showed an up tick that was trending higher while still at a low net level. The market's downside pressure isn't a large amount yet, and it will remain so if the Inflowing Liquidity levels continue to remain high.
Please click on the link below for today's complete commentary and chart:
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm
As assets grow, TSP resists calls for change from Congress
http://www.federalnewsradio.com/180/3649484/As-assets-grow-TSP-resists-calls-for-change-from-Congress
Stocks are ‘dangerously overvalued,’ M&A deals suggest
Analysis: Every big wave of mergers has ended with a drop in equities
http://www.marketwatch.com/story/stocks-are-dangerously-overvalued-ma-deals-suggest-2014-06-20?link=MW_story_popular
If you are old enough, remember watching Wall Street Week with big Louis R? If so, Marty Z used to always be very nervous. At the time, I thought he was overboard with concerns for safety. Now that I have some meaningful assets, I understand his caution.
10-4 & concur
Just Remember an Opportunity Cost is Better Then a Real Loss
The unbridled enthusiasm is at multiyear highs. See the link below
http://stockcharts.com/members/analysis/20140619-1.html
Revised P&F target is 104
ty for the feedback RW :)
Were you guys able to see the link in the replied to message?
Goodbye I Fund
The short-term run was nice but with the US Dollar in rally mode, investor confidence relatively high, and RSI signalling sell, I'll take an opportunity cost if I rallies from here.
http://www.marketwatch.com/story/should-you-get-ready-for-a-june-swoon-2014-06-02
F Fund had an RSI sell signal yesterday
S Fund P/E Might be Huge
The Russell 2000 P/E is now 83.83!
thanks RW and Jahvik for your kind comments
good luck with your trading gents :)
Legalize MJ in OH in 2014
All welcome https://www.facebook.com/#!/groups/597559463613606/
GROUP OVERVIEW:
1) Our group is for sharing information related to the re-legalization and use of cannabis in all states and Canada. The primary group interest is Ohio and other stakeholder updates will also be included.
2) Any existing group member can and should invite and approve members. This group is promoted and enhanced by you inviting your friends to join our group by putting their names into the "Add people to group" box. Your help to add your buds is appreciated because you will be doing them and us a favor. :)
3) Anyone can see the group, who's in it, and what members post. In other words, we are an open group because we believe cannabis is a natural God-given right and blessing.
4) We do not promote or accept posts to sell cannabis or other products.
5) In this group, you will see we share information and entertainment to accomplish our mission, vision, and objectives as shown below.
6) Because of the adult nature of this group, we suggest all members be legal-age adults. Since we have no control over this, you are entering at your own risk if you are under 18.
----------------------------------------------------------------------------------------------------
GROUP MISSION. Our mission is to move public opinion to re-legalize responsible adult cannabis use, and to serve as an advocate to help assure save access to high-quality cannabis that's convenient and affordable. We intend to help end prohibition.
----------------------------------------------------------------------------------------------------
GROUP VISION. Our future vision is one where cannabis is legally bought, properly labeled, sold in a regulated market free of black-market influences.
----------------------------------------------------------------------------------------------------
GROUP OBJECTIVES:
1) Increase public awareness of cannabis prohibition.
2) Promote and help pass medical cannabis laws at the ballot box and/or state-house legislation.
3) Support hemp farming and its industrial use.
4) Refute, defuse, and educate the cannabis prohibition opposition.
5) Collaborate with other cannabis reform groups such as the Ohio Rights Group, etc.
6) Reach out to and include non-traditional groups to help reform cannabis laws including religious groups, families, students, and victims of cannabis prohibition.
7) Challenge use of drug testing as a tool of discrimination.
8) Remove driver's license suspensions for cannabis offenses.
9) Increase membership and improve communications.
I hope Marko doesn't get his wish
http://www.federalnewsradio.com/20/3623743/TSP----room-for-a-LOT-more-customers
If you are a Facebook user, and want an easy way to keep up with cannabis-related reforms/issues/uses/etc., then please join my group at https://www.facebook.com/groups/597559463613606/
All welcome :)
Thanks for the kind thought RW :)
Thanks hando.
With C Fund entering overbought territory today and having all exchanges available, thinking about tightening up my sell limit to preserve the gain.
For the one's out of the market or underweighted, I'm thinking we see an entry point soon on a short-term correction.
Good luck mates!