The breakout rally from last week has been moderate, contrary to what would be expected given the duration of the trading range, which started from the middle of December. Using the daily S&P 500 (SPX), it would be expected to see the active TD Sell Setup take an easy path to a 9 count up to 2323.89, the TD Trend Factor. The inability to record a 9 count would put in question sustainability.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Neutral if SPX closes below 2280.07 at the close of the session on Monday, January 30, 2017
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: NEUTRAL
Bearish if the SPX closes below 2276.98 on Friday, February 3, 2017.
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Neutral if monthly SPX closes below 2168.27 on Tuesday, January 31, 2017.