Terminology
We would like to welcome our new members and explain terminology that we’ve been using. $SPX $NDX have been in the Up Trend since 12/26/18. During this Up Trend, $SPX $NDX experienced three Major Pullbacks between 12/26/18 and 1/24/20.
After Major Pullback3, Surge10 started on 10/3/19. Surge10 ended for $SPX on 1/22/20, and ended for $NDX on 1/24/20. We are now in Major Pullback4. Our trading system based on market internal indicators issued a bearish signal calling for a short-term top on Jan 22. Our readers had 2 days of warning before market took a serious dive. Our trading system also identified in advance the bounce that started on Jan 28. We urged traders to exit long positions based on $SPX $NDX in preparation for Major Pullback4. On Jan 30, our trading system issued another bearish message. We showed you a highly bearish dashboard of market internal indicators. The following day on Fri Jan 31, $SPX $NDX $RUT all went into selling mode. Since our system issued the first bearish signal on Jan 22, $SPX and $NDX are down over 3%. Meanwhile the inverse bearish ETF SQQQ has gone up 9.25%. $SPX $NDX are now in Major Pullback4. We don’t have enough data yet to determine whether Major Pullback4 will truly turn into a new Down Trend, or whether we will have Surge11 that follows Major Pullbackk4. So how do we do short-term and intermediate term trades of this new phase? Should we get out of stocks in our long-term portfolios? Read on. The full article covers: Market Internal Indicators
Short-term Support & Resistance Levels
Market Projections and Trading Plan
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