The Stock Trader’s Almanac has a page on how to trade the Thanksgiving market where entering long into the Thanksgiving week and exiting the following week has an excellent track record. This should continue to ring true as many DeMark points are being recorded this week. Ideally, a reversal from the highs will come on Wednesday plus or minus a day with the S&P 500 trading around 1820.
S&P 500 (SPX) SHORT TERM OUTLOOK: BULLISH
There are new TDST cluster levels between SPX 1788.64 – 1792.89. The levels are represented by the 15/30/60 minute timeframes. While a close below 1795.82 will bring the short term outlook to neutral, a close below the lowest TDST level at 1788.64 will signal the market is on the verge of breaking down sooner than expected.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
The SPX can record a TD Sell Countdown @13 tomorrow with a close above 1804.84 (the high from last Friday) which will bring a series of confluences from the 4 hour, daily, and a past due weekly SPX chart.
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH
All major indices have unbroken TD Sell Setups (updated November 22nd)
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
SPX has decisively closed above the May highs and current TD Sell Setup @9 + 7 remains unbroken. Will flip back to neutral with a monthly close under 1685.73. (updated November 4th)