Sunday, July 17, 2022

Tech. Sector Outlook Will Make Or Break Indices

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

Starting this week, technology companies report their Q2 earnings and their outlook for Q3 and Q4. Chances are good that those reports send indices lower.

SGS Market Timer

As of the close of last Friday (7/15), the value of SGS was calculated to be -369 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. 

My Plan

I am 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.