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- Last Update: 26 May 2018, 14:03
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 candle 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.
5/25/2018 Levels to Be Aware of
2889/2900 Monthly R3; Round Number
2873 All-Time Closing High (1/26/18); All-Time High (1/26/18)
2800/2803 Round Number; High of eleven weeks ago; Monthly R2
2775 Weekly R3
2759 Weekly R2
2740/2742 Weekly R1; Last Week High
2724/2726 Weekly PP; Monthly R1; 10 DMA
2721 Last Week Close
2705/2711 Weekly S1; Last Week Low; 100 DMA
2698/2700 20 DMA; Round Number
2681/2689 150 DMA; Jan 2018 Low; Weekly S2
2670/2674 Weekly S3; 2017 Close; 50 DMA (declining)
2640 Monthly PP
2634 200 DMA (close 3.3% above)
2600/2606 Round Number; Dec 2017 Low
2586/2594 10% Pullback from $SPX High; Mar 2018 Low
2554/2562 Apr 2018 Low; Nov 2017 Low; Monthly S1
2533 Feb 2017 Low; Reaction Low
2520 Oct 2017 Low
2500 Round Number
2469/2476 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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