The S&P 500 (SPX) negative headwinds for the short to short/intermediate term are over and the current bullish leg should have staying power.
S&P 500 (SPX) SHORT TERM OUTLOOK: BULLISH
Neutral if SPX closes below 2088.17 at session close.
The 4 hour SPX chart will likely show a completed TD Sell Setup today. But since the breakout came with upwards momentum as shown by the TTM_Squeeze indicator on the SPX daily chart, it is probable that any dip will present a buying opportunity, and the completed TD Sell Setup should transition to a TD Sell Countdown.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Flip to neutral if SPX closes below 2068.59.
The TD Trend Factor at 2124.35 is within striking distance but it may not matter as the TTM_Squeeze has pressed to the upside. Also take in account the last pair of 13’s (blue down arrows) has produced a lengthy sideways trading pattern, and each selloff almost produced a 5.5% high to low drop. (A 5.5% selloff technically renders the TD Trend Factor useless.) Given these variables, expectations are for the daily TD Sell Setup to complete a TD Sell Setup @9.
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: NEUTRAL
Switch to neutral if SPX closes below 2051.82 on February 20, 2015.
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Change to neutral if SPX cannot close above 2018.05 by February 27, 2015.