The bearish construct is still alive but clear signals are not present. As a result, staying patient until the market tilts its hand is the short term strategy. If there is a new higher high for the SPX and if it comes at a struggle, the short term 4 hour SPX may lay claim to a bearish reversal with a TD Sell Setup @8 late Wednesday or and 9 early Thursday.
S&P 500 (SPX) SHORT TERM OUTLOOK: NEUTRAL
Each recorded bar is a data point and through some patience, the market needs to show its hand and give a tighter buy/sell point. Until that time, the neutral range is wide – between SPX 1785.02 and 1808.36. Any trading above 1808.36 TDST Resistance will force a look at a possible 9 count TD Sell Setup on the 4 hour chart. A close below 1805.01 at the end of the day will record a bearish price flip but since it occurred in the neutral range, an additional day is needed to evaluate its impact.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: NEUTRAL
Staying neutral to see what effect the recorded TD Sell Countdown @13 has. (updated December 9th)
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH
Switch to neutral with a close below SPX 1798.18. (updated December 9th)
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Will flip back to neutral with a monthly close under the January price flip level of SPX 1681.55. (updated December 1st)