A Market Timing Report based on the 2-28-2014 Close published Sunday March 2, 2014
The SP500 Index (SPX, SPY) is at an ALL TIME HIGH (or by Monday WAS). Yes, that record and it’s also two days over the prior intraday all time high set on 1-15-2014. The issue is that there is a resistance line (top white line) at which the SP500 stopped on Friday after falling back from a clear cut breakout. So Monday is the big decision point. As of this time, our futures are down 0.90% from CNBC’s fair value number and Asian markets are faring even worse.
Here’s the SP500 Index Chart: (Note that the 50 day moving average is buried under the second red line from the top as they converge.)
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NOTE: The Gold and 10 Year Treasury Market Charts will be posted shortly. See the link to the upper right. Thanks.
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Look for updates on the main chart tracking pages this week as I feel they are needed and comments via Twitter.
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