Sunday, July 28, 2024

Selling Is Very Likely Done

SGS Market Timer Status:  LONG 
LONG as of the close of Friday July 12, 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 (7/26), the value of SGS was calculated to be +278 and the status of SGS remains Long.

S&P 500 Support And Resistance Levels

The support and resistance levels for the current week in the SPX are shown above. There is a good chance that selling in major indices is done. SPX very likely on its way to test its recent all-time high and beyond.
My Plan

Per my plan I added to my long positions in SPY, QQQ, and SMH last Friday. My plan is to add to those positions again (another 10% for a total of 30%) once SPX puts in a new all-time high.

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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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