Updated for recent trades
After a false break out to the up side out of its symmetric triangular formation last Tuesday, SPX continued its selling during the final two trading days of 2015. SPX is now trading well within its symmetric triangular formation. At this point chances are excellent that SPX tests its AUL (lower boundary of sym. triangular price formation) and 100 D-SMA around 2025 to 2020 on Monday or Tuesday as massive profit taking ("tax selling") hits the market.
Longer term, I expect SPX to continue its selling to test last August / September lows around 1870 by mid to late January.
Per my plan I opened my second short position in SPY last week (Thursday open). My plan is to open my third short position once SPX closes below 2020.
Season's Greetings and Happy New Year
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
TUL: Tentative Uptrend Line TDL: Tentative Downtrend 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.