Sunday, May 22, 2016

SPX Is To Test 2000

Support Zone at 200 and 100 DSMA

Amid political and financial uncertainties, chances are good that indices continue their sell off to test support zone around 2000.

Long Term Outlook (Weeks to Months):
SGS_LT Market Timer Status:  NEUTRAL 
NEUTRAL as of close of  May 20, 2016
SGS_LT is a Long Term (weeks to months) Timer
Current Long Term Portfolio (2016)
Past Long Term Portfolios (2008-2015)

SPX is now trading in a well established down trending price channel. SPX is on its way to test its 200 D-SMA around 2010.

My Plan:

My plan is to keep my short positions open for now.

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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 informational  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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