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Market Backs Off at Previous High June 10, 2018

Posted by Tom in Thoughts.
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June 8, 2018 – Not much progress this past week.  The market appears to be pausing at the previous swing high of 7610 that happened on March 12 (dashed blue line below).  That’s not a surprise with all of the potential international news happening after Friday’s close; the G-7 meeting and North Korea next week.  No need to put “new money” into this market just yet.

But the market remains strong and positive.  Sentiment, Money & Volume Flows are all good.  We remain in the upward price channel and the support price line (red) is now at 7354; that’s where “problems” will most likely come to bear.  So, until something out of the blue happens, we monitor which sectors are strongest in this market.  The table below indicates where the strength lies in the short term. (color coded by percentile; green is strongest, etc.)

That’s about it for now.  I’m nearly fully invested but watching (always) for weakness; not much there now.  Have a good week.  ……….  Tom  ………..

Price chart by MetaStock; pie chart & table by http://www.HighGrowthStock.com. Used with permission.

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