EOM Simple Simon Test: 2010 Pullback A Analysis

Motivation is what gets you started. Habit is what keeps you going. Jim Rohn

Yesterday the SPX closed under key support.  Will it rally and close above 2015 this week?  If not, do you have your Inverse Fund candidates front and center for trading opportunities?  If you do not like leverage then take a look at HDGE.

I am on the road today-here is your analysis/chart for the day.

Today, I analyze the SPX action during the 2010-18% Pullback A. We will see if the Simple Simon gave quality entry signals.

SPX 2010 Pullback A Chart

Key Points…

1.  SPX tested support three times with the triple bottom before breaking out
2.  SPX made an Inverse Head and Shoulders pattern before breaking out-yellow box
3.  A SS Buy Signal was generated in September when the CMF and MACD Histogram went positive
4.  A SS Sell Signal was NOT generated in November because the CMF or MACD Histogram did not go negative

In conclusion, the Simple Simon DID generate a SS Buy Signal during Pullback A.

Tomorrow, I analyze SPX 2011-Pullback B to see if a SS Buy Signal was generated or if it failed miserably.

Enjoy your day,

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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