SGS Market Timer has turned "SHORT" as of close of last Friday 7/24. All 5 major indices (DJI, DJT, SPX, RUT and NAZ) are in confirmed downtrend now.
Market sold off everyday last week despite good earnings reported. SPX broke through its short term uptrend line and closed solidly below all important 2100 support. At this point chance are good that SPX, after a brief rally, sells off to test its 200 D-SMA. A close below 200 D-SMA, which is highly likely, would signal more selling to test PUL's around upper 1900.
My plan is to open short positions early this coming week. A good entry point would be when SPX back tests old support at 2100, very likely tomorrow. My plan is to short DIA, SPY, IWM and QQQ (1st of 4 short sells) in margin accounts and buy SH, PSQ and RWM (1st of 3 buys) in cash accounts.
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.