Since I took my 75G 25F allocation 18 September, I'm beating GCSI, with .37% while F has gained .99% I'll be the first to admit it's really hard to sit on my hands and watch this market while I'm parked in G&F, but for the moment I'm more bearish than bullish because that's what the charts tell me. Regardless of what I think, in the short-term we continue to put in lower highs and mixed lows.
AGG appears to be breathing thin air up at these levels. In the beginning of October it started to sputter a little and the momentum indicators are off their highs. The biggest thing I wanted to point out on this 15 minuter chart is the rising price channels seems to be getting smaller. Prices are still rising, but at a reduced rate.
The 15 minute S&P 500 chart shows the last candlestick managed to close just above the most recent descending trendline. Also, we still have the 1040.92 gap from October 6th yet to be filled.
For the big 3 charts I wanted to point out the visible weakness in the Dow Jones transportation Average, when compred to the Nasdaq and S&P 500. It is still trading well below the 20 SMA and today put in a lower high & lower low. This has been the single biggest reason I have stayed out of this market and will continue to do so, until I believe this market is ready to resume the medium-term uptrend.
Cheers...JTH
AGG appears to be breathing thin air up at these levels. In the beginning of October it started to sputter a little and the momentum indicators are off their highs. The biggest thing I wanted to point out on this 15 minuter chart is the rising price channels seems to be getting smaller. Prices are still rising, but at a reduced rate.
The 15 minute S&P 500 chart shows the last candlestick managed to close just above the most recent descending trendline. Also, we still have the 1040.92 gap from October 6th yet to be filled.
For the big 3 charts I wanted to point out the visible weakness in the Dow Jones transportation Average, when compred to the Nasdaq and S&P 500. It is still trading well below the 20 SMA and today put in a lower high & lower low. This has been the single biggest reason I have stayed out of this market and will continue to do so, until I believe this market is ready to resume the medium-term uptrend.
Cheers...JTH
