big picture for the week of September 4th

Screen Shot 2018-09-08 at 8.58.15 AM

Overall a green flag for uptrend this week. But before that the schools are back in US, end of labor day, back to schools for summer. Traders, investors and Institutions are back in full swing..

The news with tariffs and stuff has not really jittered the market. Lets looks at the big S&P 500 weekly chart

Screen Shot 2018-09-08 at 8.55.05 AM

what a wonderful uptrend!. Neither the S&P 500 nor NASDAQ nor NDX has broken below the 9 Week Exponential moving average. the above chart is brilliant and beautiful!

the Jan 2018 high of S&P 500 is around  2872  now recently we move 1.5 % above the January high and has very timidly retreated. it closed 2871 yesterday.

FFTY – the top growth stocks in the entire market has put in 1% yesterday.

NASDAQ lost 185 points this last week and is down 2.2 % for the week.

Market sentiment indicator – measuring from Thursday to Wednesday went down just 1 point to 62.3

Screen Shot 2018-09-08 at 9.23.05 AM

my only concern is the above chart – For 6 days it went down. yesterday it dropped 3.17 % points but look at the above chart a weekly uptrend from July 2nd 2018!

decision : stay in QLD and NDX but wait on NQ because of the volatility!

Look at chart below – what a wonderful chart – lowest unemployment ever!

Screen Shot 2018-09-08 at 8.57.42 AM

 

 

 

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