- Bear Case (90% imo): SPX sells off early this coming week
and penetrates the neckline and closes below it. That would signal an excellent chance of more selling to test 200 D-SMA (SPX 1975) and PUL's (around SPX 1900).
- Bull Case (10% imo): Support at the neckline holds and SPX rallies to close above its 50 D-SMA on the back of extraordinarily strong seasonality.
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.