Monday, March 13, 2017

There is some deterioration in the S&P 500 (SPX) last week. Here is an attempt to construct a roadmap by connecting some timeframe dots: From the four hour SPX chart, a narrow range TD Buy Setup @9 was recorded last Thursday, March 9, 2017. With the four hour SPX, it is bullish. The contradiction is the daily SPX is still technically bearish. For Monday’s trading, the daily SPX can continue the active TD Buy Setup by closing below 2368.39, and render the four hour SPX back to bearish. This will provide a signal that a more meaningful selloff is close at hand. However, if the SPX should start to trade above the four hour TDST Resistance level at 2383.89, that is a signal the SPX will want to trade above 2400 to fulfill both TD Sell Countdown @13 and TD Combo Sell @13, possibly right to the fourth degree 2434.63 TD Trend Factor. A full FOMC meeting is on deck for this Wednesday that potentially can raise volatility. 


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

Bearish if daily SPX closes below 2368.39 (daily price flip) on Monday, March 13, 2017

SPX - four hour


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

Neutral if daily SPX closes above 2368.39 on Monday, March 13 2017 or below 2395.96 on Tuesday, March 7, 2017 

SPX - Daily


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

Bearish if weekly SPX closes below 2351.16 on Friday, March 17, 2017

SPX - Weekly


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

Neutral if monthly SPX closes below 2198.81 on Friday March 31, 2017


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

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