| SPY Weekly The SPY broke above $213.78 a few weeks back & has held up nicely. The 50 Week Moving Average is finally perking up for the first time in the past year. The 10 Week Moving Average (Red Line above) is sitting between $210-$211. I'll be waiting for a pullback to this area before adding anything to my position. Overall, it is a very bullish chart. |
| GLD Weekly Gold is also still acting very healthy. The precious metal took a hit on the big NFP/Jobs number last Friday, but this is likely just a healthy pullback before another move higher. |
| TLT Weekly Long dated Treasuries have been a huge performer this year. They are digesting the recent breakout above $138.50. As long as it holds the $136.50 area on a closing basis, I like this to also continue higher. The US indices are hitting new all time highs almost on a daily basis. The fact that safe havens like the $TLT & $GLD are still holding up well, gives me pause & is preventing me from aggressively adding to any long term US equity positions. Overall I believe the US markets look complacent, but like them to continue to grind higher. Good luck & God bless! |
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