The window for a selloff starts this week as the weekly S&P 500 (SPX) has recorded the first of three price exhaustion signals with a TD Combo Sell @13. Furthermore, the Nasdaq Composite (COMP) collaborates with the SPX with both the daily and weekly charts recording a TD Sell Countdown @13 and a TD Combo @13. If the SPX continues upward, the 2432.98 TD Trend Factor is still a viable target.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH
Bearish if daily SPX closes below 2398.42 on the close of Tuesday, May 30, 2017
S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH
Neutral if weekly SPX closes below 2399.29 on Friday, June 2, 2017
S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH
Neutral if monthly SPX closes below 2278.87 on Wednesday, May 31, 2017