30 minute S&P 500 (SPX)TD Buy Setup @1TD Sell Countdown (N/A)TD Combo Sell (N/A)
On the first day of trading of the new year, it appeared the S&P 500 (SPX) was about to enter the blowoff stage and potentially record a TD Combo Sell @13 on the daily chart. However, equites had a setback with a military strike on the second day of 2020. While it is quite plausible the first trading day (Thursday, January 2nd), was the high print rather than the anticipated January 6 – 7th target date, trading action did not break any short term TDST Support Levels at 3216.38 (30 min) and 3217.33 (60 min) to warrant an imminent warning to the uptrend. But the selloff does add a consideration to the bearish case.
Daily S&P 500 (SPX) Short/Intermediate Term: BullishBearish if SPX has a qualified break below the 30 min and 60 min TDST SupportTD Buy Setup @1TD Sell Countdown @13 (December 13, 2019)TD Combo Sell @11
3 day S&P 500 (SPX)TD Sell Setup @8TD Sell Countdown @9TD Combo Sell @13 (December 26, 2019)
If the SPX does continue to rally, and matches or exceeds the high of 3258.14, that will perfect the Three Day SPX and likely coincide with the daily SPX recording a TD Combo Sell @13, which puts the SPX on reversal alert.
Weekly S&P 500 Intermediate/Long Term: BullishNeutral if weekly SPX closes below 3168.80 on Friday, January 10, 2020TD Sell Setup @9+2TD Sell Countdown @3TD Combo Sell @8
Monthly S&P 500 (SPX) Long Term: BullishBearish if SPX closes below 2976.74TD Sell Setup @5TD Sell Countdown (N/ATD Combo Sell @3