Sunday, December 15, 2024

More Selling Is Likely Ahead

SGS Market Timer Status:  LONG 
LONG as of the close of Friday August 16, 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 (12/13), the value of SGS was calculated to be +55 and the status of SGS remains Long.

S&P 500 Support And Resistance Levels

The support and resistance levels for the SPX this week are shown above. The SGS value has been declining for three consecutive weeks, indicating the potential for further selling pressure ahead.
My Plan

Per my plan I closed my long positions, except for BTC, in all long-term accounts last Monday. I plan to remain on the sidelines until the second week of the 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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