Monday, November 25, 2013

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. 

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S&P 500 (SPX) SHORT TERM OUTLOOK: BULLISH

Flip to neutral with a close below SPX 1795.82 Image

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. 

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S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH

Some kind of top is expected this week but will flip to neutral with a close below SPX 1787.87 today.Image

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. 

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S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH

All major indices have unbroken TD Sell Setups (updated November 22nd)

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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)

 

 

 

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3 Responses to Monday, November 25, 2013

    • Art says:

      That is the first article I have read from him that doesn’t mention his indicators. Note the Dow analog chart roughly shows a 5000 point drop which equates to a 30% loss in 3 months.

  1. hatman says:

    SPX has managed to reach the important 1805/8 area from where a correction should develop down to the 1760 area. After that the market should rise again to 1828 (say 1820/30). If it trades above 1805.8 then it will probably continue to 1820/30 without the intermediate correction. After 1820/30 a much deeper correction should arrive, taking SPX to 1660/40 and possibly as low as 1560. However the 1920/80 area beckons next year, probably in early summer. For Thanksgiving week be aware that the market usually hopes for strong sales, but in the current environment strong sales might be seen as another nail in the QE coffin.

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