Sunday, April 21, 2019

Let Market Lead

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

Q1 earnings and outlook have been a mixed bag so far.  That explains why indices are trading in a narrow range.

SGS declined last week and it closed below its DTL for the week.  SGS is signaling that a sell-off is likely this week.

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

My Plan

I'm waiting to see what earnings look like before opening any positions. Best is to let Market lead and never get in front of it.

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.