Sunday, March 1, 2015

Indices Are Likely To Continue Their Correction From Overbought Levels

SGS Market Timer Status:   NEUTRAL 
NEUTRAL as of close of 2/11/2015

RTS Current Portfolio (2015)

Short term, indices are at overbought level.  Longer term, indices are bullish.

Chances are good that SPX continues its late last week decline to test its DTL around 2095.  A daily close below DTL would signal a likely test of 50 D-SMA around 2060.

My plan is to start opening long positions once 50 D-SMA is sucessfuly tested, very likely later in the week.

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.