The market finished flat for the week but we may have seen some signs of a crack in the rally. The chart below shows just how over extended this market is. A pull back to the 50 Day Moving Average (DMA) line should be imminent. We’re looking for a correction down to the 200DMA over the next few months before a final thrust to new highs going into late 2017 and early 2018.
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Have a great week!
Jerry
Is today the day to go to 100% G? They are talking about how high the DJIA is on the news today.
The market has been at extended levels for the past several months with very light volatility but, it’s yet to roll over. We’re at 50%C/50%G to get some of the gain while hedging against potential loss. Until the market rolls over, my position will remain the same. Having said that, if you are risk averse, going to 100% G at this point is a great idea.