Red base line on the weekly has held in the past, will it hold again, we should have expected a pullback as it has moved rapidly since the first of the year. Will the bear take a hold, or are the bulls just finding a good pullback buying opportunity, we shall find out t his week, good luck if your trading the bio sector.
Spy still holding nicely, notice the distance from the 100 ema has maintained a range since last may (ppo), the weekly 10/50 looks strong, and the price is staying within the Lin-reg. OBV not shown also looks to have held and is moving up again, with the Russian issues it should be another interesting week, although a little milder as the Fed will not be speaking....
Green above red, but the distance between price and cloud is a concern, it will at some point pull back to cloud, sleep with one eye open. Last month did have a nice green bar covering the last two months. World issues may play with the markets this month, will be interesting. We are keeping our long position until the charts tells us to...
Should provide for an interesting week next week, as for now still holding long.
Both the QQQ and SPY weekly and monthly are holding up, we will stay long another week but keep and eye open, as the market is moving up, but the bears seem to be keeping the daily interesting. The Monthly SPY did drop a tail down to touch the (M)10 ema, last month, not something we have seen since Dec 2012.
Spy weekly and monthly still holding, for long term holders. Then next few weeks should be interesting to see if the bulls will pull it up, or if the bears will be able to drag it down. Hope all have a good week. Remember, invest in your family and your long term reward will always be positive......
Weekly and monthly charts are still holding, sure the month of January was a downer by a few points, but unless you are day trading, the movement down has not justified changing our allocations, "yet". We follow the chart and not the news. Price still within the linear regression channel, it has provided support in the past, and the green 10 is still above the red...
Looks like a nice pullback on the spy, we are still holding our long term portfolio, MACD's still look OK, they are curving on a downward slope, we will keep an open eye this week and look at our monthly chart next week, will stay long this week. PPO represents price above 100 day moving average.
Ok, a few days early, but still holding long, everyone have a safe new year!