The daily Tesla (TSLA) chart has a nice rhythm when determining a short/intermediate top. In the last three completed TD Sell Setups, the recorded ‘9’ count, denoted by the blue down arrow, has helped provide the timing of TSLA’s pullback. The most recent ’9’ count is now combined with TD Sell Countdown @13 today. Following the same script, Tesla should pullback here and the ideal buy point would be the rising trendline, which is now aligned with the 50 day moving average.
An historic day for the S&P 500 (SPX) at 2000 – feels funny saying that.
S&P 500 (SPX) SHORT TERM OUTLOOK: BULLISH
Neutral if SPX closes below 1998.19.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Flip to neutral if SPX closes below 1992.37 today.
SPX still has strength and now threatening to go into TD Sell Countdown mode. Although I do not place much emphasis on it, the TD Risk Level, normally used as stops, is still valid as the SPX close is below 2002.70.
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH
Change to neutral if SPX closes below 1925.15 on Friday, August 29, 2014.
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Neutral if SPX closes below 1872.34 on August 29, 2014.