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Technical Analysis

S&P 500 Trading Signals Update

by Antonis Benis, on Dec 9, 2019 4:56:32 PM

 S&P 500

This is a follow-up of my previous report on November 26th.

The Advance/Decline line is still holding strong, no divergence there; however, it did not make a new high, while Smart/Dump money confidence spread is at levels typically seen at market tops (see charts 1,2)

NYSE Advance_Decline Line trading signal for December 2019"courtesy to sentimentrader.com"

 

Smart Money _ Dumb Money Confidence Spread trading signal December 2019"courtesy to sentimentrader.com"


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Seasonality

Seasonality is supportive from mid-December until the last trading days of the year [100% winning trades in the last 69 years (US presidential cycle, pre-election year)], up until the first 1-2 weeks of January (see chart 3).

seasonax trading signals from mid-december until end of 2019 "Courtesy to seasonax.com"

 

The weekly TD sequential Sell setup for SPX is @7, will enter price exhaustion territory this week where it can record a TD Sell Setup @8 and a TD Sell Setup @9 the following week (i.e. close above 3110 on December 20th).

Cycles for the S&P 500, suggest a top today and another one on December 20th, followed by a decline into the first part of February (see chart 4 with added dates)

S&P 500 daily trading signals December 2019


Gann Analysis

Gann analysis: Resistance at 3154 (reached), 3208/3218, 3240 and 3271/3282 (see chart 5).

GANN Analysis - S&P 500

Of interest is that NASDAQ 100 has already reached a very strong, from a Gann analysis perspective, resistance level (see chart 6).

GANN Analysis- NASDAQ trading signals December 2019


Apple

APPLE (stock), made a new high last Friday. It has some resistance nearby ($273), however the much better one is at $287/289 (see chart 7).

APPLE trading signals December 2019

There, at the latest, investors should liquidate their positions, traders should look for and take sell signals.

Bottomline: IF the stock markets exceed the November high, expect an important high just before Christmas or early January at the latest (seasonality this time around is hard to ignore). Upside potential is very limited (2-4%).

Investors should not chase these markets higher, use the positive seasonality in order to lock in their profits; there will be better prices in the months ahead.


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Topic:Trading SignalsOnline Trading PlatformAsset AllocationActive TradingInvestment StrategyUS Stock MarketNYSE
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