Sunday, June 20, 2021

Selling Is Very Likely Done

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday Mar 5, 2021
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

As shown above, on Friday SPX found support around 4160ish on its daily chart.  There is a good chance that sometime early this week we see SPX retracing back at least 50% of the sell-off from its all-time and testing its new downtrend line (PDL-1).  A close above PDL-1 with good internals would signal a high likelihood of a move to new all-time highs.

SGS Market Timer

As of the close of last Friday (6/18), the value of SGS was calculated to be +59 and the status of SGS remains LONG.

S&P 500 Support And Resistance Levels

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

My Plan

SGS is LONG and my plan is to stay with my long positions.


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.