There is another threat of the S&P 500 (SPX) recycling upwards through the daily charts. The 4 hour SPX will record a “9” count TD Sell Setup today, along with TD Sell Countdown/TD Combo Sell closing in on “13’s”. But by closing above the TD Trend Factor at 1979.79, this now indicates any pullbacks can be bought, stretching the market even further. From this vantage point, the monthly SPX is coming into a final “13” as soon as August. Note: Blog will be on vacation until early August.
S&P 500 (SPX) SHORT TERM OUTLOOK: NEUTRAL
Bearish if SPX closes below 1974.20 today.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Neutral if SPX closes below 1960.23 today.
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH
Change to neutral if SPX closes below 1936.16 on July 11, 2014.
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Neutral if SPX closes below 1872.40 on July 31, 2014.