Sunday, October 17, 2021

Earnings Will Make Or Break Indices

SGS  Market Timer Status:  LONG 
LONG as of the close of Friday October 15, 2021
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

A number of companies are reporting earnings this week.  If their stocks sell off significantly despite good earnings,  that would be a giant red flag for indices, especially NDX.

SGS Market Timer

As of the close of last Friday (10/15), the value of SGS was calculated to be +324 and the status of SGS changed from NEUTRAL to LONG.

S&P 500 Support And Resistance Levels

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

My Plan

Per my plan, I opened new long positions in XLF, XLE, XLB, and XLI last Monday.  On Friday, I also open a new long position in IWM.

I have 10% remaining in cash and for now I am going to watch earnings and see how indices react to them.


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.