Sunday, May 21, 2017

Indices Are About To Take A Big Leg Down

SGS  Market Timer Status:  NEUTRAL 
NEUTRAL as of the close of May 12, 2017
SGS is a Long-Term (weeks to months) Timer

SGS is now significantly below its DTL and ADL signaling more selling ahead.

Chances are good that major indices take a big leg down next week.  Support levels are shown on the chart above.

My Plan

I'm watching from the sideline.

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.