Sunday, July 23, 2017

Next Week Is Critical

SGS  Market Timer Status:  LONG 
LONG as of the close of June 30, 2017
SGS is a Long-Term (weeks to months) Timer

SGS advanced higher again last week. It's now above its DTL and touching its ADL.  There is a possibility that ADL pushes SGS down.

Next week is critical and there is a possibility that Trump/Russia investigation take a bad turn for the President.  Should that happen, chances are good that we see a significant sell-off in indices.

Last week SPX, NAZ, RUT put in fresh all-time highs. Barring any bad political news and chaos, indices should advance higher this coming week.

My Plan

Per my plan, I did my second buy (SSO) of three buys last Monday.  I'm watching the news out of Washington to see if it would wise to close long positions and move back into cash.

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.