Thrift Savings Plan

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A Danger and an Oversold day?

This is a Danger day and an oversold day.

The Danger is because the markets are hanging on an edge. As you know, you can't have a robust economy if the banks are in trouble.

So today, we posted the (BKX) Banking Index as a weekly Point & Figure chart. When you look at the chart, you be be able to observe what looks like a Head & Shoulder pattern with a violation because the bottom support has been penetrated to the downside.

At this time, there is only one "0" going below the support line for the way we constructed the chart. With the construct we are using, a violation past two "o"s are needed for a confirmation.

So, we are very close to having a violation to the downside which would be about a drop of 14 points should it continue down, and at the same time we have a very oversold market.

We have two opposite forces in play, so it is time to be very cautious.

Please click on the link below for today's complete commentary and chart:
http://www.stocktiming.com/Tuesday-DailyMarketUpdate.htm

Marty Chenard
StockTiming.com
8A Bent Grass Ct.
Black Mountain, NC 28711
Tel: -828-296-1200-