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Morning Matters:

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

October 9, 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 remain in the channel. As such, Bias is still positive but in warning mode.

[Image 1]

Second, the Erlanger Volume Swing (EVS) is at -24.13 from -18.34. Above 0 is good and below 0 is bad. The current action is still weak.

Third, the Erlanger Crossover Spread (EC) Spread is at -22.69 from 19.64 which sees deterioration.

Last, the Erlanger Trend Direction (ETD) moves from pullback to downtrend.

So what is an investor to do here? We would recommend to stay with strong stocks, trim weaker names and start to build a shopping list of new names.

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) recently.

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