SGS Market Timer Status: SHORT
SHORT as of the close of Friday Jun 03, 2022
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
Why Market Timing Is A Must
So far earnings report and Q3/Q4 forecasts for the Tech Sector has been mixed. This week AMZN, AAPL, META, GOOGL, QCOM, and many other technology companies are to report. Chances are good that those reports send indices lower.
SGS Market Timer
As of the close of last Friday (7/22), the value of SGS was calculated to be -83 and the status of SGS remains SHORT.
S&P 500 Support And Resistance Levels
Support and resistance levels for SPX for this week are shown above. There is a good chance that the recent low for SPX (3636) was a bottom and not the bottom for the current bear market. SPX very likely tests 3500 level sometime last July or early August.
No change. I am still planning to close my SDS positions sometime this week as SPX tests 3500.
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.