The U.S. markets pulled in modestly from major resistance with a late-day reversal Wednesday, and on Thursday, it seemed to re-attempt the upward trek once again. However the Dow Jones Industrials closed the day just shy of 13,000 at 12,992.66.
Perhaps most obviously, each index continues to work on its 200-day moving average as detailed here repeatedly. This may be Bullish news leading on a possible road to recovery. Yet, along with those 200-days, round-number resistance is coming into play at Dow 13,000, Nasdaq 2,500 and S&P 1,400. Each benchmark has held tightly to these areas throughout May, improving the chances of an eventual breakout. The next few days and weeks will tell the facts.
On a sour note, while we were close to hitting the 'eject' button on AIG as it recently came close to violating our DJTP -6% SELL 'Rule', thanks to more bad credit news we got our heads handed over to us with no-time to react as the stock plummeted -9% overnight, and therefore we are kicking it out of our holdings...
Asides from that, our latest flurry of BUYS in the last 4 to 8 weeks, (which now makes up 18 holdings of our DJT Portfolio), is doing and holding up just fine.
Here is a look at our DJTP performance Year To Date vs. the major stock market benchmarks and index:
DJTP.....+7.74%
SP500.....-3.05%
DOW......-3.26%
NASD......-4.47%
Perhaps most obviously, each index continues to work on its 200-day moving average as detailed here repeatedly. This may be Bullish news leading on a possible road to recovery. Yet, along with those 200-days, round-number resistance is coming into play at Dow 13,000, Nasdaq 2,500 and S&P 1,400. Each benchmark has held tightly to these areas throughout May, improving the chances of an eventual breakout. The next few days and weeks will tell the facts.
On a sour note, while we were close to hitting the 'eject' button on AIG as it recently came close to violating our DJTP -6% SELL 'Rule', thanks to more bad credit news we got our heads handed over to us with no-time to react as the stock plummeted -9% overnight, and therefore we are kicking it out of our holdings...
Asides from that, our latest flurry of BUYS in the last 4 to 8 weeks, (which now makes up 18 holdings of our DJT Portfolio), is doing and holding up just fine.
Here is a look at our DJTP performance Year To Date vs. the major stock market benchmarks and index:
DJTP.....+7.74%
SP500.....-3.05%
DOW......-3.26%
NASD......-4.47%
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