Monday, January 9, 2017

The daily S&P 500 (SPX) has regrouped and recorded a new closing high. This does not change the primary prognostication with many weekly and monthly charts recording or very nearly recording price exhaustion. However, the shorter term charts are a bit more complicated. Even with the new high on the SPX, it is free to roll over anytime from today to next week. Today due to the four hour SPX chart in the sweet spot of price exhaustion and the daily SPX rallying back to perfect the TD Sell Setup @9. Despite those price exhaustion indications, the Nasdaq’s price action (see chart below) is suggesting an active TD Sequential 9-13-9 is in play which could finalize next week. We’ll continue to see how all these variables reconcile with each other. 


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

Bearish if the SPX closes below 2269.04 on Monday, January 9, 2017

screen-shot-2017-01-08-at-2-32-19-pm


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

Bearish if SPX closes below 2257.83 on Monday, January 9, 2017

screen-shot-2017-01-08-at-2-31-25-pm


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

Bearish if the SPX closes below 2258.07 on Friday, January 13, 2017

screen-shot-2017-01-08-at-2-38-02-pm


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

Neutral if monthly SPX closes below 2168.27 on Tuesday, December 31, 2017


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