Tuesday, February 17, 2015

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.

Screen Shot 2015-02-15 at 9.34.09 PMThe 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.

Screen Shot 2015-02-15 at 9.56.06 PMThe 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. 

Screen Shot 2015-02-15 at 10.05.53 PMDepending on the close this week, a bullish option may come back to the picture.


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

Change to neutral if SPX cannot close above 2018.05 by February 27, 2015. 


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