Written by: Mike Simonato, Ontario Presenter: “My Three Friends”, Dec. 3, 2016, VectorVest International Online User Group (Click here to View: My Three Friends)
Apple keeps making my net worth soar but again I’m not that good and I know a big pullback will come eventually. The numbers are continuing to show a need for caution. We are heading into a potentially weak time for the Mkt (Sept/ Oct) and heading into what could prove to be an ugly USA election in early Nov as well as an expected 2nd Coronavirus wave in Oct/ Nov. Toronto seems to be continuing to shut down. This week alone I had clients go down to empty out offices and ones who came up a couple of times a year are living in Collingwood/ Blue Mountain full time. This is a time for caution in opening new positions and want to closely watch existing positions. There are areas we can profit from and how to identify them, as set out in Stan’s recent VectorVest Views essay titled, Beyond Gold and Silver. Continue to stay well and make this the best year ever.
USA: Red Asterisk in Price column, RT below 1 – warning signs that suggest caution.
DOW JONES: Price MA’s 3 above 8 and price above 3, and yet price has gone nowhere the last 2 weeks. RT Keeps falling.
NASDAQ: Graph still looking amazing, but RT Falling
S&P 500: Needs to breakout with conviction and RT also falling
MKT TIMING: Price basically flat but RT, BSR and MTI continue to fall
READ: Views. Strategy and Climate (Earnings indicator flat 5 weeks in a row)
PTSE: Price broke below the “T Line” (8EMA) but holding the 20. RT Falling
VENTURE: Price broke below the T Line and right at the 20 SMA. RT Falling
MKT TIMING: Price still flat but above the T Line. MTI, BSR and RT continue to fall
READ Views (Another amazing essay from Stan). Strategy and Climate (Earnings Indicator continues to fall further into Bear Mkt territory
AS always nothing more than my 2 cents and I hope it’s of value and interest