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Morning Matters:

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

September 11, 2019

We are updating our look at the S&P 500 via our favorite chart of SPY.

The Weekly Displaced Moving Average (DMA) Channel (Yellow Band) sees the current price in the channel. As such, Bias moves to neutral.

[Image 1]

Second, the Erlanger Volume Swing (EVS) is at -1.06 from -16.51. Above 0 is good and below 0 is bad. The current action is still negative but off the lows week over week for a third week in a row.

Third, the Erlanger Crossover Spread (EC) Spread is at 22.78 from -30.34 which is an improvement.

Last, the Erlanger Trend Direction (ETD) remains in rally from downtrend.

So what is an investor to do here? We would recommend to stay with strong stocks and begin to selectively add to stocks, very selectively.

Positioning in our Morning Matters Portfolio off this chart and several other indicators find cash is at 33% from 25% as we took profits in Facebook (FB) three weeks ago.

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