- Bull Case (99%): SPX consolidates its recent gain this week and continues its rally higher to set new all time highs. Chances are good that SPX sells off this coming week to test its DTL (around 2080) and possibly its 50 D-SMA around 2050. Those would be good targets to open new long positions.
- Bear Case (1%): SPX sells off early this coming week and starts a 10% to 15% correction from its recent high within the next few weeks.
SPX: S&P 500 Index D-SMA: Daily - Simple Moving Average
DJI: Dow Jones Industrial Index D-EMA: Daily - Exponential Moving Average
DJT: Dow Jones Transportation Index PDL: Primary Downtrend Line
NAZ: NASDAQ Composite Index PUL: Primary Uptrend Line
RUT: Russell 2000 Index ADL: Active Downtrend Line
OEX: S&P 100 Index AUL: Active Uptrend Line
NDX: Nasdaq 100 Index DTL: Dynamic Trend Line
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.