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- Last Update: 16 January 2019, 17:54
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.
1/11/2019 Levels to Be Aware of
2941 All-Time High (9/21/18)
2931 All-Time Closing High (9/20/18)
2900 Round Number
2864 Sep 2018 Low
2817 Reaction High
2796/2800 Aug 2018 Low; Round Number
2756/2760 Monthly R1; 100 DMA (declining)
2741/2744 200 DMA (declining; close 5.3% below); 150 DMA (declining)
2692/2700 Jun 2018 Low; Weekly R3; Round Number
2674/2682 2017 Close; Jan 2018 Low
2646 10% Pullback from $SPX High; Weekly R2
2631/2635 Nov 2018 Low; 50 DMA (declining)
2621 Weekly R1
2598/2606 Last Week High; Round Number; Oct 2018 Low; Dec 2017 Low
2596 Last Week Close
2586/2595 Mar 2018 Low; May 2018 Low
2573 Weekly PP
2548/2557 Weekly S1; Monthly PP; Apr 2018 Low; Nov 2017 Low
2533/2538 Feb 2018 Low; Last Week High; 10 DMA
2520/2525 Oct 2017 Low; 20 DMA (declining); Last Week Low
2511 38% retracement from Feb 2016 Low
2500/2507 Round Number; Weekly S2; 2018 Close
2475 Weekly S3
2447 Last Week Low; Sep 2017 Low
2400/2417 Round Number; Jun 2017 Low; Jul 2017 Low; Aug 2017 Low
2376 50% retracement from Feb 2016 Low
2350/2353 20% below $SPX High; May 2017 Low
2347 Dec 2018 and 2018 Low
2322/2329 Mar 2017 Low; Apr 2017 Low
2300/2302 Round Number; Monthly S1
2272 Feb 2017 Low
2239/2245 Dec 2016 Low; 62% retracement from Feb 2016 Low; Jan 2017 Low
- 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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