Wednesday, July 13, 2016

QUICK UPDATE: A lot can happen in a month. Brexit came, but a full fledged selloff never materialized, and now, the S&P 500 (SPX) is poised for another tremendous long term rally – like it or not. If this rally reverses course, the TD indicators will help with the exit.

Screen Shot 2016-07-12 at 8.10.29 PMWith the weekly SPX chart, it is clear the 2104.27 TDST Resistance has been breached to the upside, and provides more confidence that the active YD Sell Setup and TD Sell Countdown will complete.

Screen Shot 2016-07-12 at 8.09.23 PMFrom the daily chart, the SPX is best explained through a timeline. First the 1850.61 TDST Support defined the bearish price level, and later the 2112.02 TD Trend Factor defined the upside target. Note the TD Trend Factor was tested twice, but it is no longer active since the minimum 5.5% correction at 1993.76 was recorded. Considering the long term sideways correction lasted over a year, as indicated by the monthly SPX chart (not shown), the recent upside breakout above the 2104.27 TDST Resistance could last awhile.

 

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7 Responses to Wednesday, July 13, 2016

  1. Gary says:

    Art, great to have you back. Another user of DeMark posted a comment that we are seeing 13 sells on bond futures on both the daily and weekly timeframes. Are you seeing the same?

    Thanks,
    Gary

    • Art says:

      I’m not seeing anything on the ZB 30 year UST futures. Do you the specific bond or ticker? However, the TNX, which I follow, is closing in on a major bottom this year. I’ll post on it soon.

  2. Gary says:

    I’ll post when my Twitter guy notes another important DeMark signal to see if the two of you are in synch.

  3. RW says:

    Whos your twitter guy?

  4. Gary says:

    This guy: I also like his understanding of credit derivatives and how they are a good early warning system of trouble ahead

    @FZucchi
    Focus on: option trades for long/short positions; corp. credit/derivatives; DeMark studies; I generally trade in time frames of a few weeks to a few months

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