Sunday, September 17, 2017

3Q Earnings And Forecast Will Set The Path Forward

SGS  Market Timer Status:   LONG 
LONG as of the close of September 8, 2017
SGS is a Long-Term (weeks to months) Timer

SGS advanced higher and closed above its ADL last week.  That's highly bullish and signals that chances are good that indices continue their advance higher.

Major indices advanced higher every day last week. At this point, chances are good that major indices continue their advance this coming week. 

My Plan

Per my plan, I closed all SDS long positions last week. I'm going to watch the market this coming week and see how 3Q earning reports are shaping up.  I'm watching for any earning misses and pessimistic forecast.

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.