Sunday, March 18, 2018

Indices Are To Push Higher

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday, March 9, 2018
SGS is a Long-Term (weeks to months) Timer

Why Market Timing Is A Must

The chaos that is unleashed on daily basis by the White House is keeping indices from rallying strongly to challenge their all-time highs.  It seems the chaos presidency is not going to end anytime soon and the market is starting to ignore it all and does what it needs to do.

On Thursday and Friday last week, SPX hovered around its 50 D-SMA.  Despite lackluster performance later in the week, chances are high that we see SPX rally on the back of a dovish FOMC statement this coming Wednesday.  There is a well-formed bull flag (shown in blue) on SPX daily chart above. 

SGS advanced earlier in the week and declined on Thursday and Friday.  SGS is well above +50 and its status is still LONG. 

Supports and resistances for SPX for the upcoming week are shown above.

My Plan

Per my plan, I opened my first of 3 long positions in QQQ on Wednesday.  My plan is to open the 2nd long position in QQQ sometime early this week.

Current Long-Term Portfolio (2018)
Past Long-Term Portfolios (2008-2017)

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.