Monday, December 5, 2016

This week, it is necessary to show all short term and long term timeframes. Based on the S&P 500 (SPX) 4 hour chart, the close last Friday recorded a TD Buy Setup @9, which makes it ripe for the SPX to attempt to resume the overall uptrend. Getting a bit more detailed, note that the 4 hour TD Buy Setup has not been perfected. This provides the opportunity for the SPX to see a lower low before reversing higher. An ideal catalyst could be the referendum in Italy. Any perceived negativity there can bring the SPX lower, then reversing at some point during the trading day. Now if the SPX decides to move lower, the level to watch will be 2164. There are a lot potential game changers at that level. 2164.51 is the 4 hour TDST Support level, and 2164.45 is the weekly bearish price flip. Furthermore, if we use some traditional technical analysis tools, 2164.32 is the 38.2% Fibonacci level. 


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

Neutral if SPX closes above 2191.10 on Monday, December 5, 2016. 

screen-shot-2016-12-02-at-7-46-27-pm


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

Neutral until further notice. 

screen-shot-2016-12-04-at-11-05-09-am


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

Bearish if the SPX closes below 2164.45 on Friday, December 9, 2016. 

screen-shot-2016-12-02-at-7-07-04-pm


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

Neutral if monthly SPX closes below 2170.95 on Friday, December 30, 2016. 

screen-shot-2016-11-30-at-8-20-03-pm


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4 Responses to Monday, December 5, 2016

  1. Tom says:

    Just discovered this page and it’s been super helpful with regards to watching the Sequential and general education.

    In your experience, what path does a market usually take when the 9 count goes well beyond 9? For example, gc02-17 is likely to hit 21 today.

    Thanks for your insight.

    • Art says:

      Typically TD Setups typically shows some sort of price exhaustion upon reaching 8 or 9 counts. If price action goes beyond the 9 count, price momentum is very strong, and suggests a longer term shift is occurring. Therefore, on gold, it is helpful to look beyond the daily chart for additional guidance. Hope that helps.

  2. Tom says:

    Great info…thank you for your quick response!

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