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- Last Update: 22 June 2018, 6:40
Support / Resistance Lines
The purpose of this list is to assess market trend and risk using Intermarket analysis of Commodities; Currencies; Bonds; and Stocks as well as Risk Appetite (VIX, CPC, Rato Studies, etc) and Foreign Markets. Nomenclature: Intermediate Trend (IT): 3 or more Months; Short Term (ST) generally 3 days to 3 weeks.
Version 2 has some added charts and has been restructured to make it easier to navigate to only those studies of interest. The series from 000 to 400 are relationship studies and 500 to 700 are candlestick charts of major indexes and ETF's. 000 - Commentary & Macro view; 100 - Commodities; 200 - Currencies; 300 - Bonds; 400 - Stocks; 500 - Candle Charts for Commodities, Currencies and Bonds; 600 - Domestic Stock Indexes; 700 - Foreign Stock ETFs.
How I use it: I review the entire series before the open and after the close. Once acquainted with the relationships in play I keep an eye on the components using the summary view during the trading day.
The purpose of this list is to make macro level calls I may cite trades I have put on or am considering as examples. These are not recommendations as that engenders a different series of charts and analysis.
I welcome all feedback, questions and recommendations. I am very open minded and enjoy the discourse as it helps me continually improve this list and my analysis.
6/15/2018 Levels to Be Aware of
2900/2914 Round Number; Monthly R3
2873 All-Time Closing High (1/26/18); All-Time High (1/26/18)
2823/2828 Weekly R3; Monthly R2
2800/2807 Round Number; High of fourteen weeks ago; Weekly R2
2791/2793 Last week High; Weekly R1
2779 Last Week Close
2773/2778 10 DMA; Weekly PP
2762/2767 Last Week Low; Weekly S1; Monthly R1
2747/2748 20 DMA; Weekly S2
2734 Weekly S3
2708 100 DMA
2697/2702 150 DMA; Round Number; 50 DMA
2681/2682 Monthly PP; Jan 2018 Low
2674 2017 Close
2656 200 DMA (close 4.6% above)
2619 Monthly S1
2600/2606 Round Number; Dec 2017 Low
2585/2594 10% Pullback from $SPX High; Mar 2018 Low
2554/2562 Apr 2018 Low; Nov 2017 Low
2533 Feb 2017 Low; Reaction Low
2520 Oct 2017 Low
2500 Round Number
2469/2472 38% Retracement of rally from Feb 2016 Low to $SPX High; Monthly S2
- US Dollar and Commodities trend in opposite directions
- Bond prices and Commodities trend in opposite directions
- Bond prices and Stocks are inversely correlated
- Bond Yields and Stocks trend in the same direction
- Stocks and Commodities are correlated
At tops, the typical rotation is Bond Yields peak first, Stocks second and commodities last. This order is less reliable at bottoms.
Gold Miners (GDX) often lead Gold (GLD)
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