Monday, December 19, 2016

Last Wednesday’s (December 13, 2016) TD Sell Countdown @13 and TD Combo Sell @13 both signaled the top for the daily S&P 500 (SPX) – So far. The small selloff did not materially damage the overall uptrend. If the SPX should deteriorate, the 30 minute and 60 minute TDST Support levels between 2245.96 and 2254.19 should not hold as shown below on the hourly SPX chart.screen-shot-2016-12-17-at-9-25-05-amFurthermore, if the SPX should break below the 30/60 minute TDST Support levels, the daily TDST Support at 2191.95 will then serve as the primary support level. Inability to break below that level will suggest seasonal tendencies will dominate with the backing and filling to fulfill the 9 count for the weekly TD Sell Setup. By the way, the weekly SPX can record a 9 count without recording a higher closing high on the daily SPX. It just won’t be perfected.


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

Bearish if SPX closes below 2254.19  and trades below 2245.96 any day this week. 

screen-shot-2016-12-17-at-9-27-04-am


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

Bearish if the SPX closes below 2213.35 on Friday, December 23, 2016. 

screen-shot-2016-12-17-at-9-27-45-am


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

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


Advertisements
This entry was posted in Uncategorized. Bookmark the permalink.

6 Responses to Monday, December 19, 2016

  1. chang says:

    Thanks! Really enjoy your commentary. Happy Holidays!

  2. annlberlin says:

    Thank you. Happy Holidays.

  3. Gary says:

    Yes,thanks Art for the great work you do. Could you refresh my memory on what the significance of a signal not being perfected means?

    “Furthermore, if the SPX should break below the 30/60 minute TDST Support levels, the daily TDST Support at 2191.95 will then serve as the primary support level. Inability to break below that level will suggest seasonal tendencies will dominate with the backing and filling to fulfill the 9 count for the weekly TD Sell Setup. By the way, the weekly SPX can record a 9 count without recording a higher closing high on the daily SPX. It just won’t be perfected.”

    • Art says:

      Thanks — In a typical 9 count TD Setup, The high print should occur on the 8 or 9 count, and the whole series is ‘perfected’. If it isn’t ‘perfected’, then there is a propensity for another subsequent bar to reach a high to ‘perfect’ the count. It’s akin to a double top.

  4. Gary says:

    After peaking at $554 million in February, assets in bearish Rydex funds have dropped 75%, nearly the lowest in 20 years, right at the time short and long-term DeMark counts are suggesting a top.

    https://pbs.twimg.com/media/C0JAVVnUUAADNXy.jpg:large

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s