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- Last Update: 20 March 2019, 17:55
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.
3/15/2019 Levels to Be Aware of
2941 All-Time High (9/21/18)
2931 All-Time Closing High (9/20/18)
2892/2900 Monthly R2; Weekly R3; Round Number
2883 Weekly R2
2853/2864 Weekly R1; Sep 2018 Low
2831/2838 Last Week High; Monthly R1
2823 Last Week Close
2817 Prior Resistance
2796/2800 Aug 2018 Low; Weekly PP; Round Number
2786/2787 10 DMA; 20 DMA
2760/2770 Monthly PP; Weekly S1
2744/2753 150 DMA (declining); 200 DMA (close 2.8% above)
2717/2722 Weekly S2; Last Week Low
2692/2706 Jun 2018 Low; Round Number; 50 DMA; Monthly S1
2674/2687 2017 Close; 100 DMA; Jan 2018 Low; Feb 2019 Low; Weekly S3
2646 10% Pullback from $SPX High
2628/2631 Monthly S2; Nov 2018 Low
2600/2606 Round Number; Oct 2018 Low; Dec 2017 Low
2586/2595 Mar 2018 Low; May 2018 Low
2575 Monthly S3
2554/2557 Apr 2018 Low; Nov 2017 Low
2520/2533 Oct 2017 Low; Feb 2018 Low
2500/2511 Round Number; 2018 Close; 38% retracement from Feb 2016 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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