Sunday, January 30, 2022

The Bottom Is Very Likely In

SGS  Market Timer Status:  SHORT 
SHORT as of the close of Friday January 7, 2022
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 (1/28), the value of SGS was calculated to be -1870 and the status of SGS remains SHORT.  Last Monday, SGS put in a value of -2821 and signaled that the bottom for the current correction was very likely in.  For the next following three days, the value of SGS increased but on Friday it dropped to -1870 despite a strong rally.   That was disappointing and signaled that SPX could sell off again to test last Monday's low (4222) sometime this week.

S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  SPX is still trading below its PUL-2 and that is bearish.  

My Plan

My target of SPX 4225 for the correction was reached last Monday and I closed my short position.  Except for two small crypto positions, I am in cash for now. 


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.