Sunday, April 30, 2017

Another Volatile Week Is Coming Up

SGS  Market Timer Status:  LONG 
LONG as of close of November 11, 2016
SGS is a Long-Term (weeks to months) Timer

Again SGS ticked higher every day last week, touched it ADL on Thursday and on Friday it ticked lower for the first time in 10 trading day.  This is all very bullish and chances of indices going much higher are good.

My Outlook

SPX unsuccessfully challenged its all-time high last week. I expect another volatile week ahead and a possible test of its TUL and DTL around 2340.

My Plan

My plan is to open my first long position of three in SPY sometime this coming week, hopefully into a sell-off to test support at 2340.

SPX: S&P 500 Index    SMA: Simple Moving Average
DJI: Dow Jones Industrial Index    EMA: 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
TLR: Trend Line Resistance   TLS: Trend Line Support
Disclaimer: The views expressed are provided for informational purposes only and should not be construed in any way as investment advice or recommendation.  Furthermore, the opinions expressed may change without notice.