Transcript
Hello, everyone, welcome to Friday, we had a down day today wasn’t down severely, but it was kind of broad, actually, of all of the different holdings that I have only two are up today, the short term Treasury and the extended duration Treasury. And so it’s very interesting. That doesn’t happen too often.
But this is earnings season. And so there’s a lot of volatility and companies reporting, a lot of cases reporting some pretty good earnings, but maybe a few little pieces, and the markets kind of taking that back. But again, we still held the support for the third support level, which isn’t a very big support level. So we have a long ways to go before this really becomes a problem, in my opinion. So this is kind of a normal action so far, kind of this bouncing in between support and resistance that I talked about before. And one of the things that is kind of important to understand is kind of what what the major trend is and what the minor trend is.
So every time you have a downturn, you know, hey, is this kind of start a major trend. So one of the ways that I determine trend is the 200-day moving average. So if the 200-day moving average is moving up, then that particular security or the market itself is in an uptrend, if the price is also above an upward moving 200-day moving average, that’s a really good sign of an upward trend. So that’s where we are right now we’re in an upward trend.
So any downturn is a minor move. And so it’s a counter move to the major move. And so right now, it’s still just a minor downturn, for example that we’ve had over the last couple of days. And it takes quite a bit for that to kind of change direction. So I think things are okay. As far as that goes out, just maybe a resting spot, we’ll see what happens. But again, I always try to keep my flexibility. I have my thoughts and my processes, but I try to make sure that I don’t get locked in on those. So we can be flexible and react to whatever does happen. But I don’t see any significant danger in what’s going on right now. So have a great weekend, and I look forward to talking to you on Monday. Thank you.