Sunday, February 4, 2024

Short-term, Indices Are Overbought

SGS Market Timer Status:  LONG 
LONG  as of the close of Friday Jan 26, 2024
Previous SGS Status

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


SGS Market Timer

As of the close of last Friday (2/2), the value of SGS was calculated to be +137.  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.  Since late November 2023, SPX has rallied 21%.  Short-term, indices are overbought and there is a good chance that SPX sells off this week to test supports.

My Plan

I bought SMH last Tuesday.  With SGS being LONG, my plan is to stay invested and add to my long positions if there is a significant sell-off.


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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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