Sunday, August 4, 2019

Selling Is Very Likely Done

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday Jun 14, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

There is a good chance that selling that started last week has run its course. This is based on several facts including breadth, internal data, and lack of panic selling in individual stocks. 

SGS declined last week confirming the sell-off but didn't declined significantly which would have signaled continuation of selling.

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

My Plan

I'm planning to open first of two long positions in IWM (25% of total capital), in TWTR, APG, SE, TQQQ, and MSFT (5% each for a total of 25% of total capital) sometime early this week.

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.