Sunday, May 5, 2024

SGS Market Timer Is LONG

SGS Market Timer Status:  LONG 
LONG  as of the close of Friday May 3, 2024
Previous SGS Status

SGS is a Long-Term (weeks to months) Timer
SGS & SGS-ST Performance Data 

SGS Market Timer

As of the close of last Friday (5/3), the value of SGS was calculated to be +16 and the status of SGS changed from NEUTRAL to LONG.

S&P 500 Support And Resistance Levels

The support and resistance levels for the current week in the SPX are shown above. Last week, the SPX breached its PDL-2 and appears poised to climb higher, aiming to challenge its all-time high and possibly surpass it.

My Plan

With SGS being long and SPX trading above its PDL-2, my plan is to open new long positions in SPY and QQQ sometime this week.

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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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