QUICK UPDATE: The S&P 500 (SPX) closed 20 handles higher which places the active TD Buy Setup in jeopardy as bullish price flips are close at hand. A close Tuesday above 2353.78 or even a close Wednesday above 2344.93 will neutralize the TD count. While there will be a bullish bias, all other possibilities remain open.
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Raghu on Monday, April 1, 2024 Art on Monday, April 1, 2024 Gary on Monday, April 1, 2024 Art on Monday, April 1, 2024 Steve on Monday, April 1, 2024 TD Sequential/Combo (not active)
Global SS SC CS BS BC CB Shanghai Nikkei 225 DE DAX FTSE 100 RTS Russia AR Merval Index Fut ES-S&P NQ-Nas TF-Rut Forex DXY-$ Indx $USD/¥JPY €EUR/$USD Misc Fut ZB-30y TBs CL-Crude HG-Copper Dow Indxs DJT-Trans DJU-Util SPDRs SPY-SP 500 DIA-Dow JNK-Hi Yld GLD-Gold XLF-Fins iShares IWM-Rut TLT-20y TB EEM-EmMk Stocks Apple Google Facebook Twitter IBM Bitcoin Coinbase MtGox - LABELS
- SS- TD Sell Setup
- SC - TD Sell Countdown
- CS - TD Combo Sell
- BS - TD Buy Setup
- BC - TD Buy Countdown
- CB - TD Combo Buy
- -Counts are daily timeframes.
- -Numbered entries are active counts.
- -Highest count is used for competing counts.
- -Notations in “R” specify the current count has been recorded and will remain there until there is a recorded reverse TD Setup.
- EXAMPLE: If the “SS” field is populated with a number, then the dominate count is TD Sell Setup. The corresponding “SC” and “CS” cells will give the depth of the trend with counts between 1-13 with 13 signaling a possible trend reversal. If the opposite fields, “BS”, “BC”, “CB” has a “R” entry, that means those counts have been recorded but there may be a risk TD Buy Setup (BS) can “recycle” into a new count. The “R” will remain until TD Sell Setup (SS) records a 9 count.
Art, assume we’re still in buy setup mode. With a negative French election outcome this weekend a distinct possibility, one scenario is we reach a buy setup ‘9’ count above the TDST level, providing a quality buy entry point. Any thoughts?
Coming into the morning, the SPX TD Buy Setup is active @ 5. With SPX futures currently up 7, it would take a pretty solid selloff today to keep the TD Buy Setup going. Therefore unless we se a selloff below 2328.95 today, all the counts reset. If there is a negative outcome over the weekend, the TD counts would probably start off @1. More worthy of note is the Russell 2000. TDST Support there is at 1349.43 and it has already been tested twice.