SGS Market Timer Status: LONG
LONG as of the close of Friday Jun 14, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
Starting this week, markets get to assess Q2 earnings and forecasts for major companies listed on NYSE and NASDAQ. Companies are widely expected to meet their earnings but if their forecasts for future earnings are not rosy, indices would correct between 5% to 15%. The correction could become much deeper if the US-China trade negotiations fail or a new war breaks out in the Middle East.
SGS advanced last week, confirming new all-time highs in DJI, SPX and NAZ. That is bullish.
Support and resistance levels for SPX for this week are shown above. As shown above, there is a giant rising wedge on the price chart for SPX. That is bearish.
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 Jun 14, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
My Plan
I'm watching earnings and forecasts for several companies this week. If all rosy, my plan is to open my first of two long positions in QQQ.
I'm watching earnings and forecasts for several companies this week. If all rosy, my plan is to open my first of two long positions in QQQ.
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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