Sunday, July 23, 2023

The Bull Case

SGS Market Timer Status:  LONG 
LONG as of the close of Friday July 14, 2023
Previous SGS Status

SGS is a Long-Term (weeks to months) Timer
SGS Performance Data 
Why Market Timing Is A Must

The Bull Case
  • Because of dysfunctional immigration and temporary work policies, there are significant labor shortages in just about any industry in the US.  As a result the US economy is experiencing full employment which means continued higher spending by  a confident consumer who is not worried about facing unemployment.  Also, full employment brings substantially more money to the market via employees' retirement contributions.

  • Last week Russell 2000 small cap. index breached its downtrend line and closed above it and its 38.2% Fib retracement level on its weekly chart shown above.  Also, breadth (A/D line) for both NYSE and NASDAQ have improved substantially in recent weeks, signaling higher prices for all major indices are very likely ahead. 

SGS Market Timer

As of the close of last Friday (7/21), the value of SGS was calculated to be +201.  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.


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