Short Term Outlook

**RealMoneyIssues** · 02-02-2012, 10:16 AM

Originally Posted by clester

Great day yesterday, especially for the S fund. The problem now is that the RSI is at 72. That just shows how strong it is. Too strong? Probably needs to back off a little, but is a buy when it does.

http://stockcharts.com/h-sc/ui?s=$EM...d=p33547420991

Maybe, but both the MACD and SSTO are showing this can go up some more... both of their momentum is turning up, even if its just a little

**jkenjohnson** · 02-02-2012, 11:39 AM

Originally Posted by clester

1292 area should be good support. We do need a little pullback and s&p looks toppy. For those of us waiting for Feb 1 for more trades, we need to be concerned with the jobs report Friday. I'm not sure I want to buy ahead of that. Although I think it will be ok.

Are you contemplating a move in if S&P drops to 1292 or so?

**clester** · 02-03-2012, 02:07 PM

Originally Posted by jkenjohnson

Are you contemplating a move in if S&P drops to 1292 or so?

I sure would. I jumped out too early it looks like. I think if we get a selloff it will be deeper because folks will want to lock in profits. Things look and feel great. I have to bite my lip when I get the urge to buy here. If I were in I would ride it till it breaks. Anyway, 1292 is lower than I would expect, but maybe 1310. It may be just a 2 day event when it comes.

**jkenjohnson** · 02-03-2012, 02:26 PM

Originally Posted by clester

I sure would. I jumped out too early it looks like. I think if we get a selloff it will be deeper because folks will want to lock in profits. Things look and feel great. I have to bite my lip when I get the urge to buy here. If I were in I would ride it till it breaks. Anyway, 1292 is lower than I would expect, but maybe 1310. It may be just a 2 day event when it comes.

I'm trying to milk it all I can.

**Sensei** · 02-09-2012, 12:38 PM

DAX just burst to an intraday high over 1.2% on Greek news (I assume). Now starting back down again. This will probably get us started in the green. But it ain't how it starts, it's how it finishes in the TSP game.

**jkenjohnson** · 02-09-2012, 12:48 PM

Originally Posted by Sensei

DAX just burst to an intraday high over 1.2% on Greek news (I assume). Now starting back down again. This will probably get us started in the green. But it ain't how it starts, it's how it finishes in the TSP game.

This week has been very strange so far. I hope we get a breakout soon or I may bail.

**Sensei** · 02-09-2012, 01:08 PM

Originally Posted by jkenjohnson

This week has been very strange so far. I hope we get a breakout soon or I may bail.

Wouldn't blame you. It looks like any "good" news from Greece is going to get sold.

**jkenjohnson** · 02-09-2012, 01:46 PM

[QUOTE=Sensei;347982]Wouldn't blame you. It looks like any "good" news from Greece is going to get sold.[/QUOTE

Based on the open, I am starting to think that this run up has peaked.

**clester** · 03-03-2012, 02:16 PM

I've been looking for any reason to stay in s fund. Here are a few. S fund is in a cup and handle formation which is bullish if it breaks above the handle. The RSI has worked off the high reading now in the fifties. As long as it stays above 50 it's still bullish. Double top but other indices have already broken out. Uptrend from December still intact but getting close to bottom line. Everyone looking for pullback still, so contrarian view would be to buy. Economic data is getting better. Transports have held the 50 day.

But, flat tops usually bring market drops. Gasoline is high. We are up big for just 2 months into the year. S fund has been lagging C fund. Europe?

So, all in all, things still look positive but getting iffy.