Sunday, December 4, 2022

SPX Is Up Against Strong Resistance

SGS  Market Timer Status:  NEUTRAL 
NEUTRAL as of the close of Friday November 25, 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 (12/2), the value of SGS was calculated to be +17 and the status of SGS remains NEUTRAL.

S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  SPX 4100-4300 is going to act as a strong resistance range and I expect SPX to trade within that range for a week or two.  Should SPX clears 4300, then there would be a good chance for SPX rallies to challenge its all-time high. 

My Plan

I am 95% in cash and planning to wait to see if the status of SGS changes on this Friday.


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

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.