Sunday, November 19, 2017

Mother Of All Tax Cuts For US Companies

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

Domestic and international markets are anxiously waiting to see if Republicans in the US Congress can pass Trump's tax legislation.  If that happens, chances would be high that indices advance much higher between now and the end of the year.  If it does not, indices very likely sell-off until early next year. 

SGS continued setting lower lows early last week but on Thursday and Friday it bucked its trend and advanced higher.  Where SGS ends up in the next couple of weeks is critical.

On its weekly chart, shown above, SPX is moving higher to challenge its ARL.  The uptrend is intact.

My Plan

I'm still waiting to open my 2nd long position in SSO (2X SPY).

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.