Monday, November 9, 2015

With last Friday’s job report, the first rate hike has become more favorable for December. While we will stay cautious and neutral on the S&P 500 (SPX), it is nearing the highs which a bullish breakout can be evaluated in 3 weeks when the weekly TD Sell Setup completes a 9 count. For followers on the bearish side, utilizing TD timeframe continuity is best practice to follow. To see this, observe the daily SPX which recorded a TD Sell Setup @9 on Tuesday, November 3, and a moderate selloff is in progress. The shorter time frame, four hour SPX, has an active TD Buy Setup @5. The four hour SPX can reach a price exhaustion low when TD Buy Setup reaches a ‘9’ on Tuesday, November 10. This is the point where the SPX should resume the rally. If it doesn’t, in the days ahead, trading below the weekly bearish price flip level at 2033.11 will indicate the rally has exhausted and a turn to the bearish side can be considered. Chart review below.

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

Neutral until further notice

Screen Shot 2015-11-06 at 9.33.11 PMIf the TD Buy Setup continues with moderate selling, the next bounce can occur on Tuesday, November 10, 2015.


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

Neutral until further notice.

Screen Shot 2015-11-06 at 9.18.42 PMA ‘9’ count TD Sell Setup completed on November 3, 2015, and the first test commences. As long as the SPX trades above 2033.11(weekly bearish price flip), the rally has not been disrupted.


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

Neutral until further notice. 

Screen Shot 2015-11-06 at 9.01.07 PMTD Sell Setup is active and in 2-3 weeks, a decision on direction should become clearer.


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

Neutral until further notice.


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