Sunday, July 18, 2021

Market Is On Edge

SGS  Market Timer Status:  NEUTRAL 
NEUTRAL as of the close of Friday July 16, 2021
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

The fear of another Covid spike and also the fear of high inflation pushed indices lower last week.  There is a good chance that indices rally early this week to retrace back 40% to 60% of their decline and to test the newly formed PDL-1, shown above.  A close above PDL-1 would signal a high likelihood of the resumption of bull rally.

SGS Market Timer

As of the close of last Friday (7/16), the value of SGS was calculated to be +36 and the status of SGS changed from LONG to NEUTRAL.

S&P 500 Support And Resistance Levels

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

My Plan

With SGS being NEUTRAL now, my plan is to close all my long positions 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.