|The Bears hit the sell button today ending with all three major indexes closing in the red. Today is day thirty-five of this sideways action pattern. The coiled spring action continues.
There is only one remaining trading day for August. Will we see a Doji for the month? If so, what happened the last time there was a monthly Doji? I will answer on Monday. Major changes are coming to Money Market Funds effective October 14, 2016. Next week, I plan to feature the Money Market Alternative Funds, file AA1.
Yesterday, I included an article from the Wall Street Journal to help understand the situation. Here is article #2for your review.
No one knows how each fund will be effected. Questions should be addressed with the company that owns your Money Market accounts.
The week after the Money Market Fund changes are implemented, some will send and email and ask why I didn’t warn folks of the event. Do your homework and don’t be that person-OK?
Since today is “Technical and Trading Tuesday,” I redesigned the UWTI chart to review.
1. Since March, UWTI rallied 144%, retraced -63% then rallied 76%
Earlier in August, I was close to buying/trading UWTI but held off because of time availability challenges. I am waiting for the price to test previous Support then watch for a Simple Simon 5-10-15 SMA buy signal, for some time in September/October.
David O. England
Plan your work, work you plan, share your harvest! Philippians 2:3-4
If you have a question or comment, contact David England at email@example.com.