Tuesday, December 27, 2016

It’s becoming more probable that any significant price action for the S&P 500 (SPX) will begin in the beginning of January of 2017. Going into a narrative, the 30/60 minute chart’s TDST Support (2245.96/2254.19) needs to hold to give the SPX a chance to march higher. If successful, another higher high is likely, but may not last long. Given the repetitive media call to see Dow 20,000, seeing a Dow 20k along with a higher high in the SPX, a subsequent selloff would fit nicely with the weekly TD Sell Setup. In the event the SPX decides to selloff without another higher high, and breaks under the 2245.96/2254.96 levels, then the daily TDST Support at 2191.95 comes into play. 

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-2016-12-23-at-6-47-15-pm


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

Bearish if the SPX closes below 2213.35 on Friday, December 30, 2016. 

screen-shot-2016-12-24-at-11-34-45-am


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

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


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3 Responses to Tuesday, December 27, 2016

  1. annlberlin says:

    Thank you. Happy 2017.

  2. gary says:

    Has TLT bottomed?
    Love your work. Thank you.

  3. Art says:

    Don’t think it’s anything but temporary. Long term it still looks lower. I’ll rethink that if it holds up above 120.66, the former monthly TDST Support. Happy New Year all!

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