Monday, April 8, 2019

SPY - DailyEquities are showing continued strength, but remain in the area of price exhaustion per the weekly charts. The daily S&P 500 ETF (SPY) recorded a TD Sell Countdown  @13 and TD Sell Countdown @13 in the vicinity of the 285.75 TD Trend Factor last week. That was the ideal reversal point. With the SPY showing a renewed liquidity push higher, the next area of price exhaustion comes when the active TD Sell Setup should be able to record an ‘8’ count on Monday and a ‘9’ count on Tuesday. The S&P 500 (SPX) is in an identical spot.

QQQ - DailyFor the Nasdaq ETF, QQQ, a TD Sell Setup @8 or @9, is set to record on Tuesday and Wednesday respectively.

While the ideal reversal point was last week, it is difficult to begin any long participation until there is a proper pullback.


S&P 500 (SPX) SHORT TERM OUTLOOK: NEUTRAL

Bearish if SPX closes below 2867.24 at the close of Monday, April 8, 2019

SPX - Four Hour


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

Bearish if SPX closes below 2867.24 at the close of Monday, April 8, 2019

SPX - Daily


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

Bearish if SPX closes below 2822.48 at the close of Friday, April 12, 2019

SPX- Weekly


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

Neutral until further notice

SPX - Monthly


 

Monday, April 8, 2019