Sunday, May 10, 2020

Selling Likely Resumes

SGS  Market Timer Status:  NEUTRAL 
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

sgs-st Market Timer Status:  long 
sgs-st is a Short-Term (hours to days) Timer


Last week in my post, I showed that SPX is in a back-testing stage of its Monthly Dynamic Trend Line (M-DTL, Monthly 13 EMA). Last Friday, SPX closed right on its M-DTL. If indices are to sell-off again to test their March lows, then that selling should start this week.

SGS continued its advance last week and its value on Friday calculated to by +21.  The status of SGS remains NEUTRAL.
Support and resistance levels for SPX for this week are shown above.


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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.
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