Sunday, December 6, 2020

Indices Remain Overbought

SGS  Market Timer Status:  NEUTRAL 
NEUTRAL (overbought) as of the close of Friday Nov 27, 2020
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must


SGS Market Timer

As of the close of last Friday (12/4), the value of SGS was calculated to be +892.  That is higher than +500, signaling indices are very likely overbought.  The status of SGS remains NEUTRAL (overbought).


S&P 500 Support And Resistance Levels

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


My Plan

Per plan I closed all my long positions last Tuesday.  For now my plan is to stay in cash.



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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.