Guest Blogger signsWritten by:  Mike Simonato, Ontario
Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)

USA   MTI 1.71   BSR 4.67 – (Tues 2.87 Wed 5.57)

Dow Jones       3 days stalled at 200 SMA Look at Wed and Fri wicks  Both days held the T Line  For now recognizing the 3&8& 200

Nasdaq:           3 days trying to get above resistance.  Not too far from all time high.  Also respecting the T Line

S&P 500:         Wicks respect the T-Line. Broke above resistance and staying above the 200 SMA

Mkt Timing:      Stalled the last 3 days but respecting the 3 EMA.  Needs to get above resistance and the 200 SMA

May 29 2020 MTI US

READ Views (Earning Indicator continues to slide. Now at 97. We have a Bear Market Scenario in which earnings, inflation and interest rates are falling), Strategy – We’ll continue to cautiously play to the upside, keeping an eye on the Color Guard in the coming week. With the Price of the VVC right around resistance of $45.44 per share, one green light and an UpUp situation (short term up and long term trend up):

Prudent Investors should only buy stocks long on up days.

Aggressive Investors and Traders should play the market as it develops with a bias to the upside.

CANADA:   MTI 1.66  BSR 3.23 – (in 15 days went from 55 to 3.23)

PTSE:              Similar to states  Stalled the last 3 days but respecting the T-Line (8-EMA)  Big selling vol on Fri

Venture:           Can it get any better?

May 29 2020 Venture Exchange

Mkt Timing:      Still heading to the 200 SMA and resistance but smaller bodied candles can indicate a weakening of trend.

Gold:                after a pullback to test the 20 sma the advance is resuming.  Big buying vol on Fri

Pot:                  rolling over and closed below the T-Line  Petra always said if the Price action looks like the top of your hand then that’s not good

READ Views – Stock Dividend Cuts Raise Alarms (one to print out), Strategy, Climate (Earnings indicator continues to fall and getting close to a Bear Mkt)

My 2 cents  We are at lofty (Nosebleed) levels so it’s wise to show caution but for me it’s continue to ride the bull until he says otherwise. Emphasizing the need for extreme caution.

Take care everyone and continue to be safe.

As always nothing more than my 2 cents and I hope it’s of value and interest.

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