Sunday, November 28, 2021

Omicron Sell-off Is A Buying Opportunity

SGS  Market Timer Status:  SHORT 
SHORT as of the close of Friday November 19, 2021
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must

Panic selling last Friday was a buying opportunity. Chances are good that selling continues early this week, offering more buying opportunities. 

SGS Market Timer

As of the close of last Friday (11/26), the value of SGS was calculated to be -572 and the status of SGS remains SHORT.

S&P 500 Support And Resistance Levels

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

My Plan

SGS is short and in hindsight, I should have closed my long positions last Monday as I had planed. I think at this point selling is either done or close to it.


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.