Monday, January 7, 2020

SPX - 30 min

30 minute S&P 500 (SPX) 
TD Buy Setup @1
TD Sell Countdown (N/A)
TD Combo Sell (N/A)

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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.


SPX - Daily

Daily S&P 500 (SPX) Short/Intermediate Term: Bullish
Bearish if SPX has a qualified break below the 30 min and 60 min TDST Support
TD Buy Setup @1
TD Sell Countdown @13 (December 13, 2019)
TD Combo Sell @11
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For the immediate bullish case, if the SPX holds above the short term TDST Support levels from above, the daily SPX still has decent shot for higher highs, up to a TD Combo Sell @13 (currently is on a TD Combo Sell @11). The bullish case is to record a TD Combo Sell @13 just at the 3292.85 TD Trend Factor.

 


SPX - 3 day
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3 day S&P 500 (SPX) 
TD Sell Setup @8
TD Sell Countdown @9
TD Combo Sell @13 (December 26, 2019)
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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.


SPX - Weekly

Weekly S&P 500 Intermediate/Long Term: Bullish
Neutral if weekly SPX closes below 3168.80 on Friday, January 10, 2020
TD Sell Setup @9+2
TD Sell Countdown @3
TD Combo Sell @8
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On a weekly basis, the SPX is still trading under the  3282.50 TD Risk Level, keeping a clean potential reversal intact.

SPX - Monthly

Monthly S&P 500 (SPX) Long Term: Bullish
Bearish if SPX closes below 2976.74
TD Sell Setup @5
TD Sell Countdown (N/A
TD Combo Sell @3
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Longer term outlook – As long as there is no price flip in the monthly, the next major selling event could come in the May ’Sell in May and Go Away’ seasonality.
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Concluding everything for next week’s trading, a higher high in the face of military threats would embolden traders to push bullish sentiment. A reversal can be found at the 3292.85 TD Trend Factor. Opposite of that. If the high has been made, breaking below the short term TDST Support levels – 3216.38 (30 min) and 3217.33 (60 min) – would provide indications of a vulnerable market. An initial target down to 5.5% lower (3078.94) would be a clear reset in the SPX. Another scenario is the market just drifts sideways. That will be a consideration if the 3 day SPX records price flips prior to recording a TD Sell Setup @9.

 

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