Existing Position: Long SLV 21.82
Current Price: 21.68
Stop Loss: 20.93
First Target: Take ½ 23.44
++++++++++++++++++++++++++++++++++++++++++++++++++++
Existing Position: Long XRT 82.78
Current Price: 84.02
Stop Loss: 80.44
First Target: 85.77 for 1/2
++++++++++++++++++++++++++++++++++++
Existing Position: Long EEM 42.85
Current Price: 43.01
Stop loss: 41.19
First Target: 44.25 for 1/2
+++++++++++++++++++++++++++++++++++++
Existing Position: Long: FXI 37.31
Current Price: 36.53
Stop Loss: 36.14
First Target: 38.97 take off 1/3 to 1/2
++++++++++++++++++++++++++++++++++++++
Existing Position: Long EWG 28.02 Sold 1/3 to ½ 29.33
Current Price: 29.63
Profitable Trailing Stop: 28.64
Next Target: 32.97
++++++++++++++++++++++++++++++++++++++
***Note: exited this position Monday
Existing Position: X Long 20.68 OUT of Balance 23.20
+++++++++++++++++++++++++++++++++++++++
Many signs of a market holding its breath. First, logic-ahead of the FOMC and lots of economic data, important earnings yet to come out. Second, price-as in the indices didn’t do that much. Third, the volatility indicator-2 inside days in the VIX-a definite pause. Fourth, volume-the S&P 500 closed on new highs with light volume. When I can find four sound factors for the current pause in the current bull phase, typically I notch it up to a time rather than price correction.
I welcome you to check out our free indicator on the marketgauge site called Little Big View. Here is the link: https://marketgauge.com/resources/littlebigview/
S&P 500 (SPY) Longer term we could be looking at a move to around 220. Unless we break April lows. Then all bets are off Subscribers: Positive pivots in all indices
Russell 2000 (IWM) 109.77 super important to hold now.
Dow (DIA) Unless this gets above 156.20 and then the top of a channel that goes back from May peak high, this could be merely a move to resistance and not much more. Too soon to say, but definitely worth noting if this begins to rollover
Nasdaq (QQQ) AAPL reported and at time of writing, had tested lower levels and was settling around the closing price of the session. QQQ had an inside day.
XLF (Financials) Inside day and still has not clear 20.88-to negate the topping candle
SMH (Semiconductors) Better, and now has the fast moving average to get through
IBB (Biotechnology) Digesting its recent move-all without getting to the all-time high
IYR (Real Estate) Failed the 200 DMA for an unconfirmed phase change to Recovery
XHB (Homebuilders) Digesting
GLD Subscribers: SLV Closed slightly under the 50 DMA-not concerning more stagnating-inside day
USO (US Oil Fund) Confirmed phase change to warning. Subscribers: P1 is 35.72
OIH (Oil Services) Has to clear the brick wall candle 49.78 to keep going
XOP (Oil and Gas Exploration) Inside day. Listless action but still in the game.
TBT (Ultrashort Lehman 20+ Year Treasuries) FOMC starts Tuesday
UUP (Dollar Bull) Maybe through 21.45 will reverse the downtrend
VNM (Vietnam) Subscribers: Like now over 19.15
VXX Subscribers: 2 inside days
URA (Global X Uranium) Subscribers: After a big day Friday, pause inside day and worth watching for a move over 15.08 if holds 14.51 the 10 DMA
FXI (China) Subscribers: Has to get back over the 200 DMA
Bye for Now!
