Sunday, April 21, 2024

SGS Market Timer Is SHORT

SGS Market Timer Status:  SHORT 
SHORT  as of the close of Friday April 19, 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 (4/19), the value of SGS was calculated to be -226 and the status of SGS changed from NEUTRAL to SHORT.

S&P 500 Support And Resistance Levels

The SPX's support and resistance levels for the current week are displayed above. This week, several crucial companies are slated to release their reports. The market's trajectory over the next few weeks hinges on how indices respond to forecasts and the outlooks provided by these companies for 2024. It's highly probable that selling pressure persists, potentially leading to the testing of key support levels for the SPX indicated by red arrows.

My Plan

This week, I'm closely monitoring earnings reports and keeping an eye on how individual stocks perform upon their release. I'm considering reallocating 20% of my cash into SDS at some point soon. As per my routine, I'll share updates on this trade via Twitter as I execute it.


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opader@gmail.com

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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