Hello Folks
Thank you for the numerous emails and inquiries if I was alive. I am indeed alive, however I was on a recent 6-week TDY detail and mostly out of touch. I am still trying to recover, and am using music therapy to stay awake and post this…
With that said, I am returning to 100% S-Fund. The SP 500 index in February ticked upward, indeed, however this was on less than average volume. That type of volume aka “less than enthusiastic volume” is reflective of an uptrend which can collapse and reverse. Remember, volume is the “horsepower” behind the move. Today, Feb-24, the SP 500 reached 1858.71, a new All-Time-High (ATH), on above average volume. Readers may recall via past postings that I am very fond of the All-Time-High and above average volume, as this is a solid indicator.
Lets take a look at some charts, first with no comments, second with comments:
As you can see, the 1850 level represented overhead resistance and a barrier to continued progress, however today, the market (not me, or other “experts”) itself decided that it indeed was in a new uptrend and powered thru the 1850 level on above average volume. This is when opinion, theory, emotion, etc should be set aside and the investor respond to the market itself.
Thank you for reading everybody, talk to you soon. Please share this post and my website with your colleagues and coworkers, and tell them I am back from TDY and still alive….
– Bill Pritchard
