Wednesday, September 17, 2014

Screen Shot 2014-09-16 at 10.02.15 PMScreen Shot 2014-09-16 at 10.17.08 PMThe TD interpretation of Tesla Motors (TSLA) is bullish, but nearing a termination point. The daily chart has a downward momentum count of TD Buy Setup @3. However, it’s the non TD rising trendline and 50 day moving average that can give TSLA support, just as it has done since June 2014. A look at the weekly charts shows a bullish trend nearing price exhaustion: The weekly TD Sell setup is 2 counts away, TD Sell Countdown is 1 count away, and TD Sell Combo, 2 counts away. Therefore, even if Tesla finds support at the 50 day MA, it is at the intermediate/long term warning stage as suggested by the weekly charts.

Fed day is today and both the 4 hour and daily S&P 500 (SPX) have both recorded reverse price flips ahead of the actual announcement. Absent of surprises, expectations are for one more high, up to the TD Trend Factor at 2027.81.


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

Switch back to neutral if SPX closes below 1984.03.

Screen Shot 2014-09-16 at 10.36.40 PMAfter a few days of sideway to down price action, today had the most significant move. Unless the FOMC gives us unexpected language, the SPX should be free to challenge the highs, possibly for the last time this year.


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

Same as Short Term Outlook, switch back to neutral if SPX closes below 1984.03. 

Screen Shot 2014-09-16 at 10.47.57 PMNow that the SPX is back to bullish, the days ahead will see if the bullish price flip will morph into a qualified TD Sell Setup at the 2027.81 TD Trend Factor.


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

Switch to neutral if SPX closes below 1955.06 on Friday, September 12, 2014. 


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

Neutral if SPX closes below 1883.95 on September 30, 2014. 


 

 

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2 Responses to Wednesday, September 17, 2014

  1. Danish Dime says:

    Hi, what does the TD counts for USD/JPY look like, TIA!

    • Art says:

      All bullish…just like the DXY. USD/JPY daily is in solid momentum with TD Sell Setup @9 +6. Weekly has a “9” and maybe a “13” next week. Should see another consolidation, then up again

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