Sunday, August 6, 2023

The Uptrend Is Intact

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


SGS Market Timer

As of the close of last Friday (8/4), the value of SGS was calculated to be +57.  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.  The uptrend for SPX on its chart (represented by the steeper TUL) is still intact.  If that line is breached and SPX closes below it this Friday, then one must consider the likelihood of further selling and possibly a retest of 3808 or even 3491 lows.


My Plan

Per my plan I bought SMH and IWM (5% each) last Monday.  I'm watching price charts and if recent highs are breached, my plan is to bring my remaining cash (10%) in and buy QQQ.




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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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