Monday, October 23, 2017

From the weekly S&P 500 (SPX) chart, a 13 has been recorded on TD Combo Sell this week. This opens the window where we should see price momentum wane or reverse. A much stronger signal will probably occur in the beginning of November where the weekly TD Sell Setup and the weekly TD Sell Countdown converge to record a 9 and 13 respectively, and the monthly TD Combo Sell can also record a 13. On the daily SPX, the counts has recycled. Last Friday’s new closing high officially cancelled the TD Countdown and TD Combo Sell counts that originated on September 11. Using DeMark’s interpretation of the cancellation, the recently completed TD Sell Setup @9 is larger than the previous TD Sell Setup @9. which makes the recently completed TD Sell Setup the dominant count. The expectations of the rally is to continue until the end of October, and then we’ll look for signs of increased volatility.


S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH

Neutral if daily SPX closes below 2559.36 on Monday, October 23, 2017

SPX - Daily


S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH

Neutral if weekly SPX closes below 2519.36 on Friday, October 27, 2017

SPX - Weekly


S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH

Neutral if monthly SPX closes below 2423.41 on Tuesday, October 31, 2017


 

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Monday, October 16, 2017

Continuing from last week, the S&P 500 (SPX) is showing some signs of fatigue, but was still capable in making new highs. Looking at the daily SPX, TD Combo Sell is one count away from a 13, and TD Sell Countdown is three counts away from a 13. TD Sell Setup is on an extended run. If TD Sell Countdown and TD Combo Sell achieves their objectives and records a 13 this week, significant damage is not expected unless a selloff begins to challenge the weekly bearish price flip level at 2502.22.


S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH

Neutral if daily SPX closes below 2550.64 on Monday, October 16, 2017

SPX - Daily


S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH

Neutral if weekly SPX closes below 2502.22 on Friday, October 20, 2017

SPX - Weekly


S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH

Neutral if monthly SPX closes below 2423.41 on Tuesday, October 31, 2017


 

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Monday, October 9, 2017

The daily S&P 500 (SPX) is very near price exhaustion levels and we should see some mild profit taking or consolidation starting this week. This can occur on Monday if the daily TD Sell Setup records a 9 with a higher high trade (2552.52). This can also occur on Tuesday if TD Combo Sell records a 13 with consecutive higher closes. To conform to the 2548.92 TD Trend Factor, a higher high on Monday and a close to the 2548.92 would be ideal.


S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH

Neutral if daily SPX closes below 2534.58 on Monday, October 9, 2017

SPX - Daily


S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH

Neutral if weekly SPX closes below 2500.23 on Friday, October 13, 2017

SPX - Weekly


S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH

Neutral if monthly SPX closes below 2423.41 on Tuesday, October 31, 2017


 

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Monday, October 2, 2017

Welcome back…Another leg up in the S&P 500 (SPX) is in the works. So far, every price exhaustion point is met with sector rotation, which leads to sideways churn for the SPX. The current narrative is another move higher to the 2548.92 TD Trend Factor, which should be a minor hurdle with some backing and filling. A more difficult period for the SPX will begin in November when the weekly and monthly TD indicators begin to converge. The sweet spot will probably be in January 2018. All in all, a bullish end to 2017. This is supported by the weekly Russell 2000 (RUT). The TTM_Squeeze shows a long price compression, which suggests a prolong move higher. RUT - Weekly


S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: BULLISH

Neutral if daily SPX closes below 2496.84 on Monday, October 2, 2017

SPX - Daily


S&P 500 (SPX) INTERMEDIATE/LONG TERM OUTLOOK: BULLISH

Neutral if weekly SPX closes below 2461.43 on Friday, October 6, 2017

SPX - Weekly


S&P 500 (SPX) LONG TERM OUTLOOK: BULLISH

Neutral if monthly SPX closes below 2423.41 on Tuesday, October 31, 2017

SPX - Monthly


 

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Wednesday, September 6, 2017

QUICK UPDATE: If the S&P 500 (SPX) can close above 2441.32 this Friday, then the weekly SPX will price flip bullish, which will create more indecisive trading. If the SPX manages to close below 2441.32, the possibility of additional technical damage stays viable, especially if the daily TDST Support at 2425.53 is broken.

NOTE: I’m still away and casually monitoring the markets until late September. Posts will be fragmented.

SPX - Daily

 

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Monday, August 28, 2017

QUICK UPDATE: The S&P 500 (SPX) feels heavy, but the barometer of negativity remains with the 2425.53 TDST Support level on the daily.

SPX - Daily


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Monday, August 14, 2017

QUICK UPDATE: The weekly S&P 500 (SPX) chart produced a bearish price flip and now the key chart will be the SPX daily chart. The daily SPX is on a TD Buy Setup @2. If the SPX can puncture the 2425.53 TDST Support level either at the close of Monday or Tuesday’s trading, then a case can be made for a trend change to bearish.

spx - daily


 

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