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Morning Matters:

Weekly Timing Chart Of The S&P 500
by Geoff Garbacz

October 10, 2018

This morning we are updating our look at the S&P 500 via our favorite chart.

[Image 1]

The first thing we notice is that the weekly Displaced Moving Average (DMA) Channel sees the price now in the channel which means that the bias is neutral from positive. In other words, it makes sense to be cautious here from aggressively buying stocks.

Second, the Erlanger Volume Swing (EVS) is at -15.71 from 6.59 last week and 5.98 two weeks ago. Above 0 is good and below 0 is bad. So currently, it is below zero and holding at that level.

Third, the Erlanger Crossover Spread (EC) Spread is at -51.79 from -10.85 and -2.02 two weeks ago.

Last, the Erlanger Trend Direction (ETD) moves to pullback mode from uptrend as it is red in the upper half from green.

So what is an investor to do here? We would recommend to stay with strong stocks and sell names with bug gains. Several indicators have deteriorated which is why we are adjusting how we add to positions.

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