Tuesday, December 2, 2014

Focusing solely on the S&P 500, there is price exhaustion, as defined by TD Sequential and TD Combo, across the daily and weekly timeframes. On the monthly timeframe, ’13’s’ have already been recorded this year. Even though the SPX is currently trading about the designated monthly  ’13’ counts, a selloff is still viable considering the SPX is still trading within DeMark’s risk level at 2105.30.


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

Flip back to neutral if SPX closes above 2067.03, the daily bullish price flip. 

Screen Shot 2014-12-01 at 8.23.10 PMThe SPX is primed to explore the downside again. The TD Sell Setup has been ‘perfected’, (denoted by the down blue arrow) and followed by a bearish price flip. The last part of the equation is to see if the SPX has the ability to cross under the TDST Support at 2049.35.


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

Neutral if SPX closes above 2067.03.

Screen Shot 2014-12-01 at 8.27.11 PMThe daily SPX trend that started October 17, 2014, is at the point of price exhaustion. It is here where new narratives can be drawn out – choppy to higher – flat to lower – or just another hard selloff.


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

Bearish if SPX closes below 2039.82 on December 5, 2014.

Screen Shot 2014-12-01 at 8.46.22 PMThe SPX recorded a TD Combo Sell @13 last week. The confluence of price exhaustion across all timeframes is nearing completion.


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

Neutral if SPX closes below 2003.37 on December 31, 2014.

Screen Shot 2014-12-01 at 9.04.41 PM


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