Sunday, August 13, 2017

An Ugly Week Is Ahead

SGS  Market Timer Status:  NEUTRAL 
NEUTRAL as of the close of August 4, 2017
SGS is a Long-Term (weeks to months) Timer

Last week SGS accelerated its decline, closed blew the critical value of 50 for the week, and the lowest since the election.  SGS is now signaling more aggressive selling ahead. 

Last Thursday, SPX found support at its W-DTL (13 W-EMA).  Chances are high that support gets tested and fails early this coming week.  Should that happen, SPX would sell-off more to test supports at its ASL and PUL-2 somewhere between 2400 and 2375.

My Plan

Per my plan, I closed my long positions in SPY, SSO, and UPRO on Tuesday.

I believe chances are high that SGS turns "SHORT" as of the close of this coming Friday. My plan is to open my first position of two in SDS early this coming week.

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    ASL: Active Support Line
OEX: S&P 100 Index    ARL: Active Resistance 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.