Sunday, December 11, 2022

October Low Is Very Likely Tested

SGS Market Timer Status:  SHORT 
SHORT as of the close of Friday December 9, 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 (12/9), the value of SGS was calculated to be -215 and the status of SGS changed from NEUTRAL to SHORT.


S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  At this point there is a reasonable chance that SPX tests the support that exist around its October low (≈3500).  Should that support fail, then SPX would sell further to test 3200 level which is also 61.8% Fib. retracement level of the Covid  rally (2191 to all-time high 4818).


My Plan

With SGS being SHORT now, my plan is open a new position in SDS sometime this week.




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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.   

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