Chart of the Week

Stocks are at the top of their up channel, and have become somewhat extended. They remain vulnerable to a pullback.

Extended Market Vulnerable to Pullback (S&P 500 )

Source: Gary B. Smith, TC2000

The markets up trend line (lower line), they present a lower risk entry point for buying. A violation of that trend line (S&P500 1025-30) would be a significant sell signal.

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Quote of the Day:
“No man can always be right. So the struggle is to do one’s best, to keep the brain and the conscience clear, never be swayed by unworthy motives or inconsequential reasons, but strive to unearth the basis factors involved, then do one’s duty.”
Dwight D. Eisenhower

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