Timing Chart On The S&P 500
This morning we will begin to look at the S&P 500 each Wednesday in our favorite chart.
The first thing we notice is that the Displaced Moving Average (DMA) Channel is below price which means that the bias is positive. In other words, it makes sense to be long.
Second, the Erlanger Volume Swing (EVS) is at 0.16. Above 0 is good and below 0 is bad. So currently, it is trying to get back above zero and hold at that level.
Third, the Erlanger Crossover Spread (EC) Spread is at 0.12 and looks to turn to red which would be a negative.
Last, the Erlanger Trend Direction (ETD) is in pullback mode.
So what is an investor to do here. We would recommend to stay with stocks but not be a buyer currently. Rather hold on to what we own. If we see further deterioration, then we will alert you to start raising some more cash.
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