SGS Market Timer Status: NEUTRAL
NEUTRAL as of the close of Friday Aug 23, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
Since its low of early August, SPY has challenged its 50 D-SMA four times, as shown by green arrows on the chart above, but failed to close above it. For SPY, its 61.8% Fibonacci retracement level coincides with its 50 D-SMA. Unless SPY manages to trade above its 50 D-SMA and above 294.50 early this week, changes are good that it sells off to test its recent lows in 285 to 282 range.
SGS advanced last week and as the close of Friday remains NEUTRAL.
Support and resistance levels for SPX for this week are shown above.
NEUTRAL as of the close of Friday Aug 23, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
My Plan
I'm long (2/3) in SDS. I'm watching SPY, a close above its 50 D-SMA and 61.8% retracement level (294.5) would be my stop-loss trigger. Should SPY sells off and takes out its recent lows, I would open my third and final long position in SDS.
I'm long (2/3) in SDS. I'm watching SPY, a close above its 50 D-SMA and 61.8% retracement level (294.5) would be my stop-loss trigger. Should SPY sells off and takes out its recent lows, I would open my third and final long position in SDS.
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
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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