Thursday, January 30, 2014

The perfect Tom DeMark bear setup was thwarted off as the S&P futures and cash markets did not break their respective levels (1762.20 futures, 1767.20 cash) yesterday. This does not diminish the importance of those levels but the active daily TD Buy Setups are about to run out of time.

—————————————————————————————–

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

SPX 1767.99 is still the bear trigger. Bull trigger on hold.

ImageA bullish price flip today on the SPX (1788.92 mid-day, 1792.44 EOD) will signal a bullish retracement potentially up to the TD Propulsion Threshold level at 1818.68. This level has company as it is confluent with the 61.8% Fibonacci level and the 50 day moving average. 

—————————————————————————————–

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

Switch to neutral if all the following indexes price flip at the close: SPX 1790.29, Dow 15,879.11, QQQ 86.74, RUT 1144.13.

ImageImageImageImageProjections for more weakness but concerted price flips by the major indices should be enough to see an upside retracement and a possible bullish element.   

—————————————————————————————–

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

Neutral if SPX weekly closes above 1842.27, most recent high close (updated January 27th.)

—————————————————————————————–

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

Switch to neutral with a January close below SPX 1681.55. After January, stop levels will be raised in accordance to price flip levels. (updated January 2nd)

 

 

 

 

Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

One Response to Thursday, January 30, 2014

  1. gary johnson says:

    It’s the DJIA that is leading the way and has been since the 1st of the year.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s