Sunday, November 24, 2019

Indices Are Looking Good But Internals Are Weakening

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday Oct 25, 2019
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

The uptrend in indices is still intact but the lack of progress in trade negotiations with China is beginning to take its toll.

For the second week in a row, SGS declined and didn't confirm new all-time highs for DJI, SPX, NAZ, OEX, and NDX.  In order for indices to resume their rally, the divergence by SGS must end soon.

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

My Plan

SGS-ST is still long but getting close to change its status to neutral. I'm still long (100% of capital) in SPXL.

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.