SGS Market Timer Status: SHORT
SHORT as of the close of August 18, 2017
SGS is a Long-Term (weeks to months) Timer
SGS advanced last week but still closed below zero for the week, signaling more selling ahead.
At this point, chances are high that the sell-off since SPX 2490 ends around SPX 2400.
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
SHORT as of the close of August 18, 2017
SGS is a Long-Term (weeks to months) Timer
SGS advanced last week but still closed below zero for the week, signaling more selling ahead.
SPX closed above its W-DTL (13 W-EMA) but still below its ARL. Chances are high that SPX sells off for the next couple of weeks to test support, initially at its PUL-3 and ASL around 2400, and then should that support fail, at its 50 W-SMA around 2300.
At this point, chances are high that the sell-off since SPX 2490 ends around SPX 2400.
My Plan
My plan is to open my second SDS position early next week should start to trade below support at SPX 2435 (last Thursday's low).
My plan is to open my second SDS position early next week should start to trade below support at SPX 2435 (last Thursday's low).
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.
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.
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