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Categories:General Market Commentary
(10/11) -- Weekly support to hold for close of Real Options Week? [middle p. 1]
(10/10) -- Support at MA(200)?
(10/8) -- Fasten seat belts for Real Options Week?
The week before Options Week has been the real options week for years IMO.
(10/3) -- Negative divergences grow in 60-minute chart.
(9/21) -- Topping out?
(9/2) -- A Falling Tide Grounds All Vessels.
NYSE looks weak and ready for a correction IMO.
(8/28) -- Topping out?
(8/23) -- The Trump Card is war with North Korea?
Have you considered that a war would change the national conversation?
(8/20) -- Back up to weekly resistance on declining volume.
(8/15) -- MA(20) support to hold?
(8/5) -- Buffett GDP warning.
(7/23) -- Look Out Above? A breakout above SPY 280 resistance on the monthly chart could take off IMO.
(7/16) -- Back up to monthly resistance.
(7/3) -- MA(100) support held.
(2/2) -- The dam FINALLY breaks!
(1/29) -- EOM window dressing WAY outside of upper BB(409)!
(1/23) -- NYSE Seismometer suggests recent run up is losing steam IMO. [Bottom p. 2]
(1/16/18) -- Time for a pause at BB(409)?
(11/13/17) -- SLOITC series back and under construction. [middle p. 3]
(8/30/17) -- Up Up and Away to SPX 5000? A post-Harvey infrastructure-building rally could really take off here IMO.
(12/6/16) -- Santa Rally is back on? Move above SPX 2200 could really take off here IMO.
(2/16/16) -- BB(409) support has held, and we are going up again?
(2/11/13) -- The Big Churn (1997-2021) is about two-thirds over IMO. [p. 1 -- posted 8/30/2001]
(6/11/12) -- 'Seven-year Itch' Triple Top at SPX 2100?
***** DISCLAIMER *****
These charts are for entertainment and educational purposes.
Do not rely on them to make investment decisions -- perform your own due diligence.
(8/29/06 -- Rev. 8/19/11) -- 'The Spy Left Out In The Cold' -- ('SLOITC').
BEYOND SUPPORT AND RESISTANCE
Many authors here have excellent analysis of support and resistance levels.
Knowing WHERE price may turn is crucial indeed.
It is the goal here to move beyond that knowledge to know WHY price turns at those levels.
What are the forces driving the quick moves toward and away from support and resistance levels?
FEAR AND BREADTH !
(6/7/06) -- The Accumulation/Distribution and On Balance Volume lines track the intra-day volume patterns.
The NAADV/NADEC line tracks the Nasdaq advance/decline ratio.
The four other lines are smoothed ratios which invert the following indicators to mimic market action:
-- two breadth indicators (TRIN and TRINQ); and
-- two fear indicators (VIX and CPC).
To my eyes, there are clear moments in the charts below when price and the fear/breadth lines diverge markedly.
These times are pegged 'The SPY Left Out in the Cold' or 'SLOITC' for short.
Depending on the time frame in which one trades, these divergences can IMO be used to anticipate possible market turning points.
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