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- Last Update: 20 October 2018, 12:04
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.
10/19/2018 Levels to Be Aware of
2949 Monthly R1
2941 All-Time High (9/21/18)
2931 All-Time Closing High (9/20/18)
2895/2906 High of two weeks ago; Round Number; Monthly PP
2872/2875 Monthly S1; Weekly R3
2864/2869 Sep 2018 Low; 50 DMA (declining)
2854 20 DMA (declining)
2846 Weekly R2
2826/2830 100 DMA; Monthly S2
2817 Last Week High; Reaction High
2795/2807 10 DMA (declining); Monthly S3; Aug 2018 Low; Round Number; Weekly R1
2775/2786 150 DMA; Weekly PP; 38% Retracement from Feb 2018 Low to $SPX High
2768 Last Week Close; 200 DMA (close 0.0% above)
2749 Last Week Low
2737/2739 50% Retracement from Feb 2018 Low to $SPX High; Weekly S1
2710/2711 Weekly S2; Reaction Low
2692/2700 Jun 2018 Low; Round Number
2674/2682 2017 Close; Jan 2018 Low
2642/2645 62% Retracement from Feb 2018 Low to $SPX High; 10% Pullback from $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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