Sunday, March 17, 2024

Major Indices Are At Critical Supports

SGS Market Timer Status:  LONG 
LONG  as of the close of Friday Jan 26, 2024
Previous SGS Status

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


SGS Market Timer

As of the close of last Friday (3/15), the value of SGS was calculated to be +160 and 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.  All three major indices (SPX, NDX, and RUT) are at critical support levels on their weekly charts.  More selling this week would signal a high likelihood of a change in the trend and possibly more selling ahead. 

My Plan

I'm watching SPX, NDX, and RUT on their weekly charts.  If uptrend lines on those charts are breached this week and SGS continues to put in lower values, my plan is to close all long positions (except Crypto).


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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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