Sunday Update: 100% G Fund until Further Notice
“Party like it’s 1999.99..?” Probably not!
Sorry, couldn’t resist.. The S&P500 closed Friday at 1999.99. Reversals tend to happen at or around round numbers so we’ll see what happens this week.
In the short run, we’re looking at some significant resistance at 2000 and then 2025 (200DMA). Next week will be all about testing those levels. See the 6 month chart below.
In the longer run, the S&P500 is in a confirmed down trend. Connecting the lower highs and lower lows creates a channel for prices to follow (see the 2 year chart below). Within this chart, there is room for the C fund to run a bit higher, maybe 2050 before rolling over.
G fund is the place to be for now... Have a great week and please SHARE.
Jerry