Sunday, January 12, 2014

Indices Are Coiled And Ready To Jump Higher

Updated for buys on 1/18

SPX broke through and back tested its Primary Downtrend Line last week.   SPX is now coiled now and its  next move is very likely to the upside within its active price channel (thick orange). 

Per my plan, I did my second buy on Wednesday (1/8) last week.  My plan is to do another buy when SPX tests its Active Uptrend Line (thick orange) and probably its 50 D-SMA (very likely sometime in mid to late March).

Disclaimer: The views expressed are provided for information purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.