Monday, February 25, 2019
The SPDR S&P 500 ETF (SPY) has recorded a TD Sell Setup @8, and paves the way for a likely TD Sell Setup @9 at the close of Monday’s session. Given the TD Trend Factor sitting at 285.75, it is quite possible a buy climax or an exhaustion gap can occur this week or at another time in the near future. If a selloff does commence this week, any buying opportunity can come if the four hour SPY TDST Support level at 270.03 holds (SPX equivalent at 2703.79). It would be worrisome if the TDST Support levels cannot hold as it would also potentially price flip the weekly charts.
S&P 500 (SPX) SHORT TERM OUTLOOK: NEUTRAL
Bearish if SPX closes below 2781.05 mid-session or below 2779.76 at the close of Monday, February 25, 2019.
S&P 500 (SPX) SHORT/INTERMEDIATE TERM OUTLOOK: NEUTRAL
Bearish if SPX closes below 2779.76 at the close of Monday, February 25, 2019
S&P 500 (SPX) INTERMEDIATE TERM OUTLOOK: NEUTRAL
Neutral until further notice
S&P 500 (SPX) LONG TERM OUTLOOK: BEARISH
Neutral if SPX closes above 2711.74 on Thursday, February 28, 2019