Monday, August 22, 2016

The next bout of volatility is coming, and as indicated by the S&P 500 (SPX) TD counts, the SPX just needs to orchestrate one more rally to begin the consolidation process. Other related indices are also mirroring the SPX, and we’ll make note of any significant charts when the time comes.  The details for the SPX are outlined below.


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

Neutral if SPX closes below 2168.50 on Monday, August 22, 2016.

Screen Shot 2016-08-19 at 9.10.46 PMSince it is anticipated for the SPX to slug higher with alternating price flips, Wednesday’s August 17th low of 2168.50 is chosen as the price level to switch to neutral to alleviate over trading.


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

Neutral if weekly SPX closes below 2173.60 on Friday, August 26, 2016.

Screen Shot 2016-08-19 at 8.48.17 PMAs long as the weekly closes above 2173.60 this Friday, the first of three price exhaustion signals will be recorded. A trifecta of the TD Sell Setup @9, TD Sell Countdown @13, and TD Combo Sell @13 can occur if the weekly SPX closes at or above 2184.05, and a recorded weekly high of 2193.81 or above.


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

Neutral if monthly SPX closes below 2065.03 on Wednesday, August 31, 2016. 


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One Response to Monday, August 22, 2016

  1. Gary says:

    Art, in regards to the following above: As long as the weekly closes above 2173.60 this Friday, the first of three price exhaustion signals will be recorded. A trifecta of the TD Sell Setup @9, TD Sell Countdown @13, and TD Combo Sell @13 can occur if the weekly SPX closes at or above 2184.05, and a recorded weekly high of 2193.81 or above.

    If I’m not mistaken, the recorded weekly high this week was 2193.81, exactly the number you posted above. Is that correct? If so, does this say something remarkable about DeMark levels, or is it merely coincidence?

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