Sunday, March 31, 2024

SPX 6,000 Sometime This Year?

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 (3/28), the value of SGS was calculated to be +326 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.  The U.S. Dollar, like many other hard currencies, is losing its value and also losing its supremacy, particularly in the global energy market.  So if you have a currency that is depreciating, then everything, including stocks, price in that currency has to be priced higher.  There is a good chance that SPX reaches 6,000 and beyond sometime this year. 
My Plan

I'm looking to open new long positions sometime in the next couple of weeks. 


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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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