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- Last Update: 8 December 2018, 13:16
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.
12/7/2018 Levels to Be Aware of
2941 All-Time High (9/21/18)
2931 All-Time Closing High (9/20/18)
29202927 Monthly R2; Weekly R3
2900 Round Number
2864 Sep 2018 Low; Weekly R2
2840 Monthly R1
2811/2817 100 DMA (declining); Reaction High
2796/2800 Aug 2018 Low; Weekly R1; Round Number; Last Week High
2786/2789 38% Retracement from Feb 2018 Low to $SPX High; 150 DMA
2758/2762 50 DMA (declining); 200 DMA (close 4.7% below)
2748 Weekly R1
2735/2737 Monthly PP; 50% Retracement from Feb 2018 Low to $SPX High
2705/2712 10 DMA; 20 DMA (declining)
2692/2700 Jun 2018 Low; Round Number
2674/2685 2017 Close; Jan 2018 Low; Weekly PP
2642/2656 62% Retracement from Feb 2018 Low to $SPX High; 10% Pullback from $SPX High; Monthly S1
2633 Last Week Close
2631 Nov 2018 Low
2622 Last Week Low
2595/2606 May 2018 Low; Oct 2018 Low; Dec 2017 Low
2570/2586 Weekly S1; Mar 2018 Low
2551/2557 Monthly S2; Apr 2018 Low; Nov 2017 Low
2520/2533 Oct 2017 Low; Feb and 2018 Low
2500/2506 Round Number; Weekly S2
2472 Monthly S3
2447 Sep 2017 Low (16.9% below $SPX High)
- 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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