Wednesday, September 10, 2014

SPX Turning Point

Three day test of the high in the works.  If we don't close above 2007.71 on the SP 500 today, this would be a failed three day test of the high and a major sell signal for me.

Right now, the sell signal is a short term one since it is made based on daily data.  Should the market decline on this signal, I would next be looking for a three week test of the high.  Should that fail, we would be starting a major move down. 

With this in mind, the market may try to stage a rally at the close.  Always have to be wary of the close as major volume enters the market in the final minute or so.


  1. Hi Gary,
    Good call with the end of day rally. It seems you have a strong bias to the market going lower in the next few years. What would have to happen for you to change your position on this. I find that when I'm bias towards a direction I look only for things to support my position. Thanks, Pete Sliney

  2. I use statistics and cycles to support my positions. Try to be as objective as possible but of course there is always interpretations.