SGS Market Timer Status: SHORT
SHORT as of the close of Friday May 31, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
As shown on the SPX monthly chart above, SPX closed for the month of May right on its M-DTL. There is an excellent chance that selling that started in May continues into June, pushing SPX down to test its PUL-3 at around 2450. A monthly close below M-DTL in June would be highly bearish, signalling significant more selling is head.
Support and resistance levels for SPX for this week are shown above.
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
SHORT as of the close of Friday May 31, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
SGS declined last week and closed at -91 on Friday. SGS status changed from NEUTRAL to SHORT.
My Plan
Anticipating the change of SGS status from NEUTRAL to SHORT, I opened my first two of four long positions in SDS on Thursday and Friday. I expect an ugly week ahead.
Anticipating the change of SGS status from NEUTRAL to SHORT, I opened my first two of four long positions in SDS on Thursday and Friday. I expect an ugly week ahead.
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.
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.
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