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At The Top of Channel August 24, 2018

Posted by Tom in Thoughts.
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Aug. 24, 2018 – OK, here’s where it gets interesting.  Note the chart below: we closed at / near the top of the channel.  This is where the market has recently bounced lower & headed “south”.  So next week as we head into the (US) holiday weekend, will it bounce lower or continue higher?  We’ll have to wait but I do note Price Strength and Volume Flow heading higher.

Volume lately has been anemic but late in the week it did pick up.  The question remains: will this strength follow through next week.  Support & Resistance levels remain the same and will serve as a guide.

Else where, I get a monthly e-mail from his site: www.automated-trading-system.com/trend-following-wizards-june-2/ , which puts out performance figures on some large “trend following” CTAs (Commodity Trading Advisors).  Many of these are well known in the industry, and I find it interesting to benchmark myself off of these guys.  With hundreds of millions of $ (or more) under management they make a heck of a lot more in fees than I can even imagine.  Check out the website & subscribe (it’s free).  In the mean time, here’s the report for June and Year To Date.
Hopefully you can read this OK or blow it up.  I find it interesting.

I see strength in Healthcare, Government Bonds (yes, hard to believe), Consumer Services and Pharmaceuticals.  My dominate index is Small Cap. Growth.  I’m being a bit careful here as we approach a channel & market top, but ready to commit more in either direction.  My stock positions are 90% full, so hedging is my insurance if we drop.

Take Care & have a good week.   …………  Tom  ………….

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

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