SGS Market Timer Status: LONG
LONG as of the close of September 8, 2017
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
On Friday SGS bucks its declining trend and headed higher, confirming the rally in all major indices. With SGS above 50 and the market entering into a seasonally bullish period, chances of a significant correction is slim to none.
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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
LONG as of the close of September 8, 2017
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
On Friday SGS bucks its declining trend and headed higher, confirming the rally in all major indices. With SGS above 50 and the market entering into a seasonally bullish period, chances of a significant correction is slim to none.
Q3 earnings and outlook have been pretty good. Chances are high that SPX continues going higher in its well-formed price channel as shown on the weekly chart above.
My Plan
Last Thursday SPY opened below its ASL and sold off to test its DTL shortly after the open. Then, SPY rallied and closed well above its ASL. On Friday, SPY continued its rally and closed well above its ARL. The rally on Friday and where SPY closed was significant because it rendered the bearish rising wedge and flag price formation invalid.
At this point, chances are high that indices continue their rally for the rest of the year. My plan is to open my first (in SPY) of three long positions sometime Monday morning.
Last Thursday SPY opened below its ASL and sold off to test its DTL shortly after the open. Then, SPY rallied and closed well above its ASL. On Friday, SPY continued its rally and closed well above its ARL. The rally on Friday and where SPY closed was significant because it rendered the bearish rising wedge and flag price formation invalid.
At this point, chances are high that indices continue their rally for the rest of the year. My plan is to open my first (in SPY) of three long positions sometime Monday morning.
info@balancetrading.org
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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