Sunday, October 8, 2023

Bull-leg Support Tested And Held

SGS Market Timer Status:  SHORT 
SHORT  as of the close of Friday Sep 22, 2023
Previous SGS Status

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

Last Friday, SPY tested and breached its TUL-2 but it closed well above that  important support line.  That is bullish, however, in light of what is happening in the Middle East, there is a good chance that SPY sells off to test support around 410 early this week.

SGS Market Timer

As of the close of last Friday (10/6), the value of SGS was calculated to be -608.  The status of SGS remains SHORT. 

S&P 500 Support And Resistance Levels

Support and resistance levels for SPX for this week are shown above.  

My Plan

I'm in cash (except for two small crypto positions) and planning to wait until SGS status changes from SHORT to NEUTRAL before considering open 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.