Thursday, January 9, 2020

SPX - Daily2

Now that the S&P (SPX) is managing fresh highs, lots of pending DeMark exhaustion signals are converging across many timeframes. The daily S&P 500 (SPX) just needs one more print higher than 3275.58, a close above 3274.70, and that would be enough to record a TD Combo Sell @13. For the longer term timeframes, a selloff of some sort is imminent. The weekly SPX recorded a TD Sell Setup @9, the 3 day SPX will likely record a TD Sell Setup @9 at the close of Friday’s session, and the 2 day has recently recorded a TD Sell Setup @9. The shorter term timeframes show the 4 hour SPX recording a TD Combo Sell @13. The 2 hour SPX can record a TD Combo Sell @13 and a TD Sell Setup @9 with one more push higher tomorrow. The 30 min and 60 min show similar price exhaustion patterns early in tomorrow’s session.

While next Monday is the primary day for maximum price exhaustion, market is getting too complacent, paving the way for a contrarian view.


 

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2 Responses to Thursday, January 9, 2020

  1. Antonis says:

    Hi Art,
    thank you for the post, it appears the next few days are critical; we should see the price top today (December 10th) if my own analysis is right (Gann and cycle analysis). I read your work for some years now, excellent job!
    Greetings from Thessaloniki

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