Monday, September 26, 2016

With the Fed not willing to pull the trigger on rates, the S&P 500 (SPX) is currently heading towards to the top end of its range. If the SPX records another closing high, it will not be considered as a breakout, but rather, potentials for reversals as some TD Setups are waiting for completion.


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

Bearish if SPX closes below 2097.90 on any day during the week.

screen-shot-2016-09-23-at-9-05-35-pmIf the active TD Sell Setup @5 continues, a 9 count could occur on Thursday, September 30, which will cap off a price exhaustion marker for the daily. This could also coincide with a weekly TD Buy Setup @13. All these price exhaustion signals are collaborating that the rally will run out of steam, and we should see equities test some support levels.


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

Neutral until further notice.

screen-shot-2016-09-23-at-8-54-04-pmDespite the rally, the weekly TD Buy Setup is still intact @5. If the rally continues, a TD Sell Countdown @13 will be recorded if the week closes at or above 2163.30. Such an occurrence would commence a more cautious outlook.


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

Neutral if monthly SPX closes below 2096.96 on Friday, September 30, 2016. 


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