Market Model (23 Dec'19)

Stocks rang in another round of closing records Monday as investors focused on a report that China will cut import tariffs for frozen pork, pharmaceuticals and some high-tech components starting Jan. 1. Investors were also eyeing developments at Boeing, after the Dow component announced that president and CEO Dennis Muilenburg has resigned amid controversy surrounding its 737 Max jet.

Technical Levels

S&P500 continues to favor bullish momentum. The following chart shows some technical levels that I set for myself. If the S&P500 drops below 3220, I would start trimming my long exposure. If it breaks below 3192, I will be fully out of my long positions.

ES, 1h Chart

Market Model is 100% LONG

BREADTH INDICATORS

NYSI – LONG

NASI – LONG

NAHILO – LONG

NYHILO – LONG

ITBMRASPX – LONG

ITBMRANYA – LONG

SPXRA50r – LONG

BPSPX – LONG

BPCOMPQ – LONG

BPNYA – LONG

TECHNICAL INDICATORS

SPX and 20dMA – LONG

Vortex – LONG

TSI – LONG

Stochastic – LONG

MACD His – LONG

Force – LONG

CCI – LONG

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