SGS Market Timer Status: LONG
LONG as of the close of Friday January 6, 2023
Previous SGS Status
SGS is a Long-Term (weeks to months) Timer
SGS Performance Data (New)
Why Market Timing Is A Must
Aging population and a dysfunctional immigration system in the US has brought on shortages of labor in just about every job sector. That was quite evident by the unemployment data that was released last Thursday, confirming again that the US economy is experiencing "full employment". That means the current labor shortage and hence wage inflation ("sticky inflation") is going to be with us for a while.
With full employment and moderate inflation going forward for the next couple of years, there is very little chance of a recession; and with no recession on the economic horizon anytime soon, it's very likely that higher prices for indices are ahead.
SGS Market Timer
As of the close of last Friday (1/20), the value of SGS was calculated to be +96. The status of SGS remains LONG.
S&P 500 Support And Resistance Levels
Support and resistance levels for SPX for this week are shown above. A weekly close above PDL-1 this week would signal a high likelihood of more buying ahead and continuation of the rally.
No chance since last week, I'm planning to wait for a weekly close above PDL-1 before opening more new long positions.
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.