SGS Market Timer Status: NEUTRAL
NEUTRAL as of the close of Friday Feb 26, 2021
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
As shown on the SPX daily chart above, SPX is about to break its uptrend line that has shouldered its rally since March 23, 2020. Other major indices have either broken their uptrend lines or about to do so. A breach of those lines signals that the rally since March lows is over and indices very likely are to retrace their gains lower.
At this point, before heading lower, there is a good chance that SPX retraces back around 50% of its recent decline and possibly test its PDL-1 around 3900.
SGS Market Timer
As of the close of last Friday (2/26), the value of SGS was calculated to be -32 and the status of SGS changed from LONG to NEUTRAL.
S&P 500 Support And Resistance Levels
Support and resistance levels for SPX for next week are shown above.
My Plan
Per my plan, last week I closed one of long positions in GBTC. Now that SGS has changed to NEUTRAL, my plan is to close all long positions sometime early next week as indices retrace back their recent losses.
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
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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