More things to ponder. For quantologists, 2014 looks to be another positive year. Break down the Thanksgiving trade, the Santa Claus trade, last week of the year trade, they all have been positive for the bulls. If January moderately cooperates, the bullish year-end track record for a positive 2014 is nearly perfect for over 50 years.
S&P 500 (SPX) SHORT TERM OUTLOOK: BULLISH
Time to put in tighter constraints as markets are beginning to show signs of strains of going up nearly everyday. The 2 hour SPX chart is in TD Countdown mode along with TD Combo Sell @11 and the 4 hour SPX chart has recorded a full TD Sell Setup @9. Risk management is key now.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Bullish complacency is at highs just as many daily charts are nearing TD Sell Setup completion. The S&P daily chart will be ‘perfected’ by matching the high at 1844.89. For the QQQ, TD Sell Setup ‘perfection’ level is at 87.90. Dow has achieved a TD Sell Countdown @13, albeit about 100 points above the TD Tend Factor. The RUT has completed a TD Sell Setup @9.
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: NEUTRAL
The area surrounding SPX 1800 continues to be the barrier for support. Even if support is broken, TD Sell Countdown for the SPX is well active which suggests any selloff will likely be of the small to moderate degree variety.
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)