Sunday, August 24, 2014

outlook for week of Aug 24, 2014

I was too cautious in my outlook as the SPX was up about twice my target.  Thought it might over shoot my target and mentioned if we set new highs to consider a position in RWM. Well ^Rut still lagging to upside and no new high (ditto for the DOW).

Looks like we may have reached a short term swing high verified by Friday's failure to close higher than Thursday  See the chart:

May be time to short the market (RWM)  GL traders.

1 comment:

  1. no Confirmation high is in yet. need to see break of trend line, and MA. Also wathc TSI for cross.