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SHORT-TERM: COULD SEE SOME WEAKNESS TOMORROW MORNING AT LEAST
As mentioned in today’s After Bell Quick Summary, looks like there always was a pullback of some kind after several Narrow Range bar consolidation, so we could see some weakness at least tomorrow morning. On the intermediate-term, I still believe a little bigger pullback is just a matter of time, but since it’s very difficult to time, so trading wise, although to be a bear is a dangerous job, but certainly neither do I think to heavily long now is a good idea .
4.1.0 S&P 500 Large Cap Index (Weekly), SPX is too far away from its MA(200) now (assume the rest of the week would be still up). From my experiences, if on the planet Earth, there’s a single indicator that is still useful, than perhaps it’s when the price is too far away from a Moving Average. So again, I don’t think to heavily long now is a good idea.
4.0.1 SPX Long-term Trading Signals, the famous SPX weekly EMA(13) and EMA(34) crossover system has the same problem too, the spread between 2 MA is simply too large.
INTERMEDIATE-TERM: COULD BE WAVE 5 UP TO SPX 1300+, PIVOT TOP COULD BE AROUND 01/05 TO 01/12
See 01/07 Market Recap for more details.
SEASONALITY: NO UPDATE
See 12/31 Market Recap for the January seasonality chart.
HIGHLIGHTS OF THE OTHER ETFS IN MY PUBLIC CHART LIST
| SIGNAL | COMMENT | |
| QQQQ | 01/10 L | |
| NDX Weekly | UP | |
| IWM | ||
| IWM Weekly | UP | |
| CHINA | ||
| CHINA Weekly | UP | Should have set the trend to down from up but I’ll see how the market rebounds. |
| EEM | ||
| EEM Weekly | UP | |
| XIU.TO | 01/06 S | |
| XIU.TO Weekly | UP | Weekly Bearish Engulfing, be careful. |
| TLT | Breakout, so TLT could be bottomed. Need watch the trend line resistance though. | |
| TLT Weekly | UP | |
| FXE | ||
| FXE Weekly | DOWN | |
| GLD | Could be an Ascending Triangle in the forming. | |
| GLD Weekly | UP | |
| GDX | 12/17 S | 1-2-3 trend change confirmed, so GDX could be topped. Be careful about gold itself. |
| GDX Weekly | UP | |
| USO | ||
| WTIC Weekly | UP | |
| XLE | 06/15 L | |
| XLE Weekly | UP | |
| XLF | 10/15 L | |
| XLF Weekly | UP | Testing resistance which also is multiple Fib confluences area. |
| IYR | ||
| IYR Weekly | UP | Home builders are lagging. |
| XLB | 01/06 S | |
| XLB Weekly | UP | BPMATE is way too overbought. |
- Please make sure you understand how to use the table above. The purpose of this report is to provide info so contradictory signals are always presented.
- Conclusions can be confirmed endlessly, but trading wise, you have to take actions at certain risk level as soon as you feel the confirmation is enough. There’s no way for me to adapt to different risk levels therefore no trading signals will be given in this report except the mechanical signals such as SPY ST Model.
- * = New update; Blue Text = Link to a chart in my public chart list.
- Trading signals in OTHER ETFs table are mechanical signals. See HERE for back test results. 08/31 L, for example, means Long on 08/31.
- UP = Intermediate-term uptrend. Set when I see at least one higher high and higher low on weekly chart.
- DOWN = Intermediate-term downtrend. Set when I see at least one lower high and lower low on weekly chart.
