Sunday, June 22, 2014

Indices Are Overbought

SGS Market Timer Status:   NEUTRAL 
Neutral as of close of 6/19/2014

RTS Long Term Current and Past Portfolios
RTS Portfolio long positions were closed on (Fri 6/20).  RTS Portfolio is in cash now.
Simply put indices are over bought.  I expect the situation in Iraq worsen which would push oil prices significantly higher and cause a sharp sell off in equities worldwide.

Chances are good that SPX sells off this coming week to find support at its 20 D-SMA around 1940.  If that support fails, SPX would probably sell off more to its AUL (thick orange) support around 1920's.

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.