Saturday, August 19, 2017

SGS Market Timer Is SHORT ... Selling Continues

SGS  Market Timer Status:  SHORT 
SHORT as of the close of August 18, 2017
SGS is a Long-Term (weeks to months) Timer

SGS declined last week and closed below zero for the week.  SGS is now "SHORT". Chances are high that indices start to sell off aggressively for the next couple of weeks.

SPX closed below its W-DTL (13 W-EMA) for the week which is quite bearish.  Chances are high that SPX sells off for the next couple of weeks to test support, initially at its PUL-2 and ASL around 2370, and then should that support fail, at its 50 W-SMA around 2300. 

My Plan

Per my plan, I opened my first position of two in SDS last week.  My plan is to open my second SDS position when SPX rallies up to back tests its DTL.

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.