SGS Market Timer Status: LONG
LONG as of close of 10/23/2015 RTS Current Portfolio (2015)
RTS Past Portfolios (2008-2014)
SPX is very likely going to test 2020 level on Monday. I expect a good bounce off of 2020 back up to back testing of 100 D-SMA around 2035 and possibly ADL-1 around 2050 by the middle of the week.
Bull Case:
A daily close above AUL-1 would signal that the sell off is over and SPX is on its way higher to new highs.
SPX is very likely going to test 2020 level on Monday. I expect a good bounce off of 2020 back up to back testing of 100 D-SMA around 2035 and possibly ADL-1 around 2050 by the middle of the week.
Bull Case:
A daily close above AUL-1 would signal that the sell off is over and SPX is on its way higher to new highs.
Bear Case:
A daily close this week below 2020 for SPX would signal a high likelihood of a test of 2000 level. A daily close below 2000 would signal more selling ahead to test September and August lows.
My Plan:
I am in cash now and planning to start opening long positions should SPX take out its all time high (2134.72) or opening short positions should SPX close below 2000.
A daily close this week below 2020 for SPX would signal a high likelihood of a test of 2000 level. A daily close below 2000 would signal more selling ahead to test September and August lows.
My Plan:
I am in cash now and planning to start opening long positions should SPX take out its all time high (2134.72) or opening short positions should SPX close below 2000.
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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.