Sunday, August 3, 2014

SGS Market Timer Is Neutral .... Indices Are Oversold

SGS Market Timer Status:   NEUTRAL 
Neutral as of close of 8/1/2014
RTS Long Term Current and Past Portfolios
In Cash ... Updated for recent trades
As of close of Friday, SPX has corrected around 3.5% from its July 24 all time high. It closed below slightly below its Primary Uptrend Line (PUL, thick black).  At this point, SPX is oversold and chances of a rally this coming week is high, especially if it can rally to first back test PUL and then close above it. 

Big Money will try his best this coming week to rally SPX up in order to get the dumb money who has been sitting on sideline for a while to come in and buy the dip (BTFD).  Chances are good that SPX rallies to challenge its all time high and possibly 2000 within the next couple of weeks.

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.