Monday, December 16, 2019

SPX Daily

Daily S&P 500 (SPX) Short Intermediate Term: Bullish
Bearish if SPX qualifies a break below the 30/60 min TDST Support
TD Sell Setup @6
TD Sell Countdown @13 (November 25, 2019)
TD Combo Sell @13 (November 27, 2019)

 

This coming week marks the sweet spot for a potential high. The daily S&P 500 (SPX) can record a TD Sell Setup @9 this Wednesday, December 18th. If the active TD Sell Setup is interrupted with a reverse price flip, a selloff below the 30 minute and 60 minute TDST Support shared at 3133.21 would provide first indications the market is beginning to falter.


SPX - 2d

2 Day S&P 500 (SPX) 
TD Sell Setup @1
TD Sell Countdown @13 (November 27, 2019)
TD Combo Sell @13 (November 27, 2019)

 

What would damage this viewpoint somewhat is if the 2 day SPX closes above the TD Risk Level at 3177.52. As shown, there was one attempt and failure to close above 3177.52 on the first try. If the 2 day SPX closes above 3177.52 for two consecutive bars, a new assessment would be necessary.


SPX - Weekly

Weekly S&P 500 INTERMEDIATE/LONG TERM: BULLISH
Bearish if weekly SPX closes below 3110.29 on Friday, December 20, 2019
TD Sell Setup @8
TD Sell Countdown (not active)
TD Combo Sell @6

 

Strengthening the longer term price exhaustion outlook, the weekly SPX has recorded the minimum for perfection with a TD Sell Setup @8. Given equites are in the bullish year end seasonality, the market may appear to be in a neutral environment until the seasonality backdrop passes. The 2 day 3177.52 level and the 30/60 min 3133.21 level are the primary reference points.


 

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 )

Google photo

You are commenting using your Google 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 )

Connecting to %s