With the across the board price exhaustion signals, equities (exception: Nasdaq) are having a hard time pushing forward. It has been a month of churning, and we will look to this week to bring some answers to direction, perhaps through economic/earnings releases, or the upcoming presidential inauguration. As long as there is no closing higher high on the daily S&P 500 (SPX), the current prognostication is lower prices. The Nasdaq (COMPQ) should see a stalled rally as it ended the week with a daily TD Sell Setup @8, recording the 9-13-9 TD Sequential.
Just to throw some weight into the bear market debate for bonds between Bill Gross placing a 2.6% on the 10 year Treasury yield as the bear market level, while Jeffrey Gundlach places the bear market level at 3%. Per the monthly chart of the CBOE 10 Year Treasury Index (TNX), both 2.6% and 3% should be taken out as the monthly TNX closed above 2.3% (22.69), the monthly TDST Resistance level.
S&P 500 (SPX) SHORT TERM OUTLOOK: NEUTRAL
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: NEUTRAL
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: NEUTRAL
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Neutral if monthly SPX closes below 2168.27 on Tuesday, December 31, 2017