Sunday, November 12, 2017

Higher Prices Are Ahead

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

SGS continued putting in lower lows every day last week.  On Friday, however, the breadth and internal data turned bullish for both NASDAQ and NYSE, signaling a good chance that indices resume their advance starting next week. 

On its weekly chart, shown above, SPX successfully tested its lower boundary of its price channel on Thursday. Chances are high that SPX resumes its rally higher starting next week on the back of positive news for Trump's tax plan.

My Plan

No change, my plan is still to open my 2nd long position in SSO (2X SPY) sometime 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.