THE TRENDS: Both the long term and intermediate term trends remain up. As you can see in the chart below, this week closed above last week. But even more important is how the prices traded during the week. Early in the week prices declined, traded slightly below the 10 week moving average, and then rebounded strongly late in the week to trade above where it opened on Monday. This is considered to be very bullish behavior.
WHAT I'M DOING WITH LONG TERM FUNDS: Since both trends remain up, I'm staying 100 invested. However, we're not to far away from a point where a confluence of events could flip the intermediate trend down. So I'm watching the market closely. Hope you all have a great weekend!
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