I had meant to put these charts up this morning before the market opened to show how various items closed March. But I am still behind the 8-ball when it comes to concentrating… or even functioning. The acute flu is over with but it’s got a long and annoying tail on it that just keeps me… stupid, for lack of a better word.
So on to the big, dumb monthly charts posted by a big, cotton headed dummy.
The SPX target is in for all intents and purposes. Still leaning toward ‘market resumes correction’ after it fixed its hurt feelings about the Healthcare follies. But obviously, this monthly chart shows no sign of anything corrective.
The target was 21,000, below which the Dow perches.
To show how bullish this thing has been, NDX was not too long ago thought to have little shot at the 2000 highs. Now, a drop to that area would most likely be a good buying opportunity. I once speculated in a long-ago NFTRH that big tech could be the “new banks”. I only wish I’d had the fortitude to do something about it at the time; like position in AAPL, MSFT, CSCO, INTC, GOOGL, etc. and JUST SIT THERE! But no, I did not do that.
SOX has long-since blasted my best target and I have no regrets here. Profits long-since taken and it’s in the hands of the momos now.
RUT… yikes, look at that target! Yet I am short IWM. The real target was 1375 and RUT finally made it there all these years later. I’ll stay short unless the daily chart yells ‘get out of the way!’.
Doctor Copper’s roof continues to contain the Trump Trade and the fiscal reflation story.
The 30yr yield could actually have risen to the ‘limiter’ at 3.37% in line with bullish markets and the Trumpflation tout, but so far our contrarian bond call is looking good. If this thing does turn down again here I want you to send Louise Yamada a letter about temperance, hype avoidance and the ills of careering in the mainstream media. Ref. R.I.P. Bond Bull!!!!!
Subscribe to NFTRH Premium for your 30-45 page weekly report, interim updates and NFTRH+ chart and trade ideas or the free eLetter for an introduction to our work. Or simply keep up to date with plenty of public content at NFTRH.com and Biiwii.com. Also, you can follow via Twitter @BiiwiiNFTRH, StockTwits, RSS or sign up to receive posts directly by email (right sidebar).