2015 Pullback C Analysis

The first step towards getting somewhere is to decide that you are not going to stay where you are.                                                                         Unknown

One of the most important form/report is the “Rules of the Road” document, located in the “Members Vault.”   If you have not completed one-now is the time. It is the foundation of your trading/investing strategy.  
For three days in a row, the major indexes (DOW & S&P 500) closed under key support
Here are the October 2016 jobs numbers from the Foggy Bottom crew.  i can remember when the numbers were trusted and actually moved the markets.

Tonight I analyze SPX during the 2015-13% Pullback C. We will see if the Simple Simon gave quality entry signals.

SPX 2015 Pullback C Chart

Key Points…

1.    SPX tested support two times forming a double bottom before breaking out

2.    A SS Buy Signal was generated in October when the CMF and MACD Histogram went positive

3.    In November, SPX retraced and tested the original entry point. 

4.    This happens 85% of the time, hence my 85% rule.

In conclusion, the Simple Simon DID generate a SS Buy Signal during Pullback C.  
Is a trend forming with each pullback analysis?  The answer is YES. 

Next week, I analyze the SPX 2015-Pullback D to see if a SS Buy Signal was generated or if it failed miserably.

Enjoy your weekend!

David O. England

Plan your work, work your plan, and share your harvest! Philippians 2:3-4

This information is for Educational purposes only. It shall in no event be construed or interpreted as an offer or recommendation to buy or sell securities of any kind.

DAVID O. ENGLAND is the founder of the Eye on the Market-Training Academy and Associate Professor Emeritus of Finance. This column is presented for educational purposes only and not intended as financial advice.

If you have a question or comment, contact David England at eyeonthemarket@outlook.com.

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