Sunday, February 17, 2019

SPX 2800 Is Critical

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday Feb 8, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must



SPX has rallied strongly from its December low and reached near 2800 which is right at its  Fib. ratio 76.4% retracement.  There is a good chance that SPX sells-off this week to test its M-DTL around 2700 before rallying higher.

For the rally to continue, it is critical that SPX overcomes resistance at 2800 and advances higher to close substantially above its M-DTL (currently at 2700).


SGS advanced last week and pushed further into "LONG" territory.


Support and resistance levels for SPX for this week are shown above.


My Plan

Per may plan I opened the second of three long positions last Thursday. My plan is to open the third and final positions as SPX is initially pushed down by resistance at 2800.

Current Long-Term Portfolio (2019)
Past Long-Term Portfolios (2018-2008)

twitter
Contact: opader@gmail.com



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.