Weekly Update

October 17, 2017

 

Welcome to the Bollinger Band Letter Weekly Update for Tuesday the 17th of October 2017.

 

I am just back from attending the annual conference of the International Federation of Technical Analysts (IFTA). It was held this year in Milan, Italy and will be hosted next year in Malaysia. It was a fabulous conference with lots of good speakers and interactions. Details in the October letter which will be posted on Saturday.

 

I posted a new market timing report today. There is a problem with the data on the percent of stocks above their 50-day moving averages (chart 6). As soon as it is fixed I will post a new chart pack.

 

Smaller stocks have been leading the recent advance, but the rest of the market has played a bit of catch up over the past two weeks while growth stocks are maintaining a slight edge over value stocks.

 

Our FAANG Index has gone to a new high, confirming the uptrend of the market in general.

 

So far the market has done a great job of avoiding the October curse. Indeed, there are almost no signs of weakness. 30% cash is a bit high in such an environment, but I am not convinced that we are out of the woods yet.

 

Steady as she goes, more in the letter.

 

There were no changes to the ETF portfolios either this week or last week.

 

With the Value Line Geometric at 541.42, the Value Line Plan is in the market with a Friday sell stop of 530.00.

 

The current allocations are:

50% US stocks, 10% International, 10% Yield and 30% Cash.

 

The ETF Program portfolio holdings:

Style (21): IUSG, 4, IWF, 3, IWB, 2.

Country (21): EWO, 2, EWI, 10, EWN, 2.

Sector (27): IXJ, 8, IGV, 9, PSJ, 1.

 

Ice Breaker reporting is now current. Details on our Allocations, Ice Breaker and our ETF portfolios can be found here:

https://www.bollingerbands.com/bb-letter/

 

Until next time, I wish you well.

 

John Bollinger, CFA, CMT

 

Copyright 2017 by Bollinger Capital Management

 

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