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- Last Update: 14 August 2018, 18:29
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.
8/10/2018 Levels to Be Aware of
2893/2900 Weekly R3; Round Number
2873/2878 All-Time Closing High (1/26/18); All-Time High (1/26/18); Monthly R1; Weekly R2
2856/2863 Weekly R1; Last Week High
2835/2841 10 DMA; Weekly PP
2833 Last Week Close
2826 Last Week Low; 20 DMA
2818 Weekly S1
2800/2803 Round Number; Weekly S2
2781/2788 Weekly S3; 50 DMA; Monthly PP
2729/2735 100 DMA; 150 DMA
2709 200 DMA (close 4.6% above)
2692 Jun 1018 Low
2674/2682 2017 Close; Jan 2018 Low
2639 Monthly S2
2595/2606 May 2018 Low; Round Number Dec 2017 Low
2585/2594 10% Pullback from $SPX High; Mar 2018 Low
2578 Monthly S3
2554/2562 Apr 2018 Low; Nov 2017 Low
2533 Feb 2018 Low; Reaction Low
2520 Oct 2017 Low
2500 Round Number
2469/2472 38% Retracement of rally from Feb 2016 Low to $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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