SPX Weekly Chart

  As shown yesterday the intermediate beta-x trendline is being monitored for a possible break. Such a break, at the very least, would warn of a retracement towards the medium term beta-x trendline. With this information in mind let's take a look at the DeMark weekly chat from the July low.
     After reaching a completed Sell Setup on November 5 there ensued a typical four price bar correction followed by a resumption of the uptrend. Right at the end of the year a TD Combo bar 13 was printed - a possible sell point. The cyan horizontal line at 1273.72 is the risk level associated with this sell point. There are numerous methodologies on how to actually trigger a sell once bar 13 has occurred. One is to act on the break of the aforementioned beta-x trendline (which has not happened yet) or to take action if the daily chart confirms that a break is imminent. I will take a look at the short-term price pulse tomorrow.