Monday, January 1, 2024

Indiecs Are Overbought

SGS Market Timer Status:  LONG 
LONG  as of the close of Friday Nov 24, 2023
Previous SGS Status

SGS is a Long-Term (weeks to months) Timer
SGS Performance Data 
Why Market Timing Is A Must


SGS Market Timer

As of the close of last Friday (12/29), the value of SGS was calculated to be +344.  The status of SGS remains Long. 

S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  Indices are overbought and there is a good chance that indices sell off on the back of profit taking and tax-selling.

My Plan

Last Friday I closed my long SPY, QQQ, and IWM positions.  There is a good chance that indices sell off during the first week of 2024.  I'm planning new long positions shortly after first few days of trading. 

Happy New Year


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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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