Monday, April 4, 2014

There are many headwinds coming up on the S&P 500 (SPX). After last week’s Janet Yellen dovish remarks, the short term SPX TD counts recycled higher, bringing the daily SPX price exhaustion signals into the spotlight. Observing the charts, expectations for the SPX to begin struggling between the current level (2072.78) and 2112.02, the TD Trend Factor looks certain.


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

Neutral until further notice.

Screen Shot 2016-04-02 at 10.00.32 AMThere are too many ambiguous signals to take any direction at the moment. The positives are the four hour SPX held the previous TDST Support at 2010.04, and it recycled higher to a new TD Sell Setup. The negatives are the completed full price exhaustion signals notated by the down blue arrows, and the SPX is now pressing against the longer duration daily TDST Resistance. Since price action is currently bullish, a bearish outlook can be considered with a close below the current 2028.31 TDST Support.


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

Neutral until further notice.

Screen Shot 2016-04-03 at 9.21.16 AMTD Combo Sell recorded a “13” on Friday’s close. With TD Sell Countdown nearing a “13” and the rally coming against daily and weekly TDST resistance levels, a neutral stance is still warranted. Furthermore, a third degree TD Trend Factor is at 2112.02, providing more caution.


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

Neutral until further notice.

Screen Shot 2016-04-02 at 10.33.24 AMIf there is a selloff as indicated by the shorter duration timeframes, the weekly TD Sell Setup stays intact as long as the weekly close does not see a reverse price flip at 2022.19 or simply the weekly SPX does not close below 20122.19 this Friday.


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

Bullish if monthly SPX closes above 2107.39 or Bearish if monthly SPX closes below 1850.61, the weekly TDST Support level on Thursday, March 31, 2016. 

Screen Shot 2016-04-02 at 10.38.40 AMThe TTM_Squeeze is entering another month of red. The longer the SPX coils, the potential to unleash a lasting rally or selloff is high.


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