SGS Market Timer Status: LONG
LONG as of close of 10/23/2015 RTS Current Portfolio (2015)
In Cash - Updated for recent trades
RTS Past Portfolios (2008-2014)
Last Friday marked the first time that SPX put in lower highs, lower lows and lower closes three days in a row since September 29 when the recent sharp rally started. Also last Friday marked the 2nd day that SPX traded below its AUL-1.
At this point, chances are good that SPX sells off to test supports at its AUL-0 and DTL around 2085 early this coming week. A close below those supports would signal a high likelihood of further selling for SPX to back test its 200 D-SMA around 2065.
Immediate resistance for SPX is at its ADL-0 around 2105, then at its TDL around 2115 and finally at its PDL-0 around 2129.
My Plan:
I closed all remaining short positions on Friday. I am in cash now and planning to start opening long positions should SPX take out its all time high (2134.72).
Last Friday marked the first time that SPX put in lower highs, lower lows and lower closes three days in a row since September 29 when the recent sharp rally started. Also last Friday marked the 2nd day that SPX traded below its AUL-1.
At this point, chances are good that SPX sells off to test supports at its AUL-0 and DTL around 2085 early this coming week. A close below those supports would signal a high likelihood of further selling for SPX to back test its 200 D-SMA around 2065.
Immediate resistance for SPX is at its ADL-0 around 2105, then at its TDL around 2115 and finally at its PDL-0 around 2129.
My Plan:
I closed all remaining short positions on Friday. I am in cash now and planning to start opening long positions should SPX take out its all time high (2134.72).
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SPX: S&P 500 Index D-SMA: Daily - Simple Moving Average
DJI: Dow Jones Industrial Index D-EMA: Daily - Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ADL: Active Downtrend Line
OEX: S&P 100 Index AUL: Active Uptrend Line
NDX: Nasdaq 100 Index DTL: Dynamic Trend Line
TUL: Tentative Uptrend Line TDL: Tentative Downtrend Line
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.
SPX: S&P 500 Index D-SMA: Daily - Simple Moving Average
DJI: Dow Jones Industrial Index D-EMA: Daily - Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ADL: Active Downtrend Line
OEX: S&P 100 Index AUL: Active Uptrend Line
NDX: Nasdaq 100 Index DTL: Dynamic Trend Line
TUL: Tentative Uptrend Line TDL: Tentative Downtrend Line
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.
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