Tuesday, June 24, 2014

Screen Shot 2014-06-23 at 6.12.19 PMUpdate on the daily charts for the big three equity futures – e-mini S&P 500 (ES), Nasdaq e-mini (NQ), Russell 2000 mini (TF). Looking similar to the cash markets, the futures are adding confluence to the TD price exhaustion signals in the days ahead. Synchronizing all three futures markets as one, if they can maintain their TD Sell Setups – all the way through count “9”, a whole slew of “13’s” will be recorded. The first “13” in line to record will begin with the TD Combo Sell on the ES, currently on track to finish any day. Markets are still bullish, but the risk/reward for initiating long positions now is poor.


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

Flip to neutral if SPX closes below 1956.98. 

Screen Shot 2014-06-24 at 7.09.56 AMThe short term 4 hour TD Sell Setup has not budged and resolving sideways. However caution will be take be taken in case the SPX starts to probe the downside.


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

Flip to neutral if SPX closes below 1956.98. 

Screen Shot 2014-06-24 at 7.10.31 AMScreen Shot 2014-06-23 at 5.21.43 PMScreen Shot 2014-06-24 at 7.13.32 AMScreen Shot 2014-06-23 at 5.27.09 PMThe 4 hour SPX TD Sell Setup @9 is helping to impede the daily TD Sell Countdown from adding to the count. The Dow is days away from recording a qualified TD Sell Countdown and TD Combo Sell.


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

Switch to neutral if SPX closes below 1923.57 (updated June 23, 2014)


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

Switch to neutral if SPX closes below 1859.45 on June 30th (updated June 2nd).  


 

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