SGS Market Timer Status: LONG
LONG as of the close of Friday, September 1, 2017
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
There is a good chance that SPX sells off another 15 to 20 points tomorrow morning and tests the support around 2740. After that, SPX very likely rallies to test key resistance around 2800. How SPX behaves as it tests 2800 level would tell us if selling is done or there is more to come.
SGS declined significantly last week but it is still above 50 as of the close of Friday and hence its status is still long. That means the probability of higher prices ahead for indices is considerably higher than the probability of lower prices.
SPX found support at its PUL-6 on Friday. There is a good chance that, after an initial panic and margin call selling on Monday morning, we see SPX rallies to test its immediate resistance at 2800. How SPX behaves on its way to 2800 and around 2800 would tell us if the selling is done and a rally to higher prices for indices has started. In that case, we should see SGS advanced higher on Monday.
SPX: S&P 500 Index SMA: Simple Moving Average
DJI: Dow Jones Industrial Index EMA: Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ASL: Active Support Line
OEX: S&P 100 Index ARL: Active Resistance Line
NDX: NASDAQ 100 Index DTL: Dynamic Trend Line
TUL: Tentative Uptrend Line TDL: Tentative Downtrend Line
LONG as of the close of Friday, September 1, 2017
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
There is a good chance that SPX sells off another 15 to 20 points tomorrow morning and tests the support around 2740. After that, SPX very likely rallies to test key resistance around 2800. How SPX behaves as it tests 2800 level would tell us if selling is done or there is more to come.
My Plan
SPX: S&P 500 Index SMA: Simple Moving Average
DJI: Dow Jones Industrial Index EMA: Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ASL: Active Support Line
OEX: S&P 100 Index ARL: Active Resistance Line
NDX: NASDAQ 100 Index DTL: Dynamic Trend Line
TUL: Tentative Uptrend Line TDL: Tentative Downtrend Line
TLR: Trend Line Resistance TLS: Trend Line Support
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.
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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