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- Last Update: 23 May 2019, 17:41
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.
5/17/2019 Levels to Be Aware of
2981 Monthly R1
2954 All-Time High (5/1/19)
2942/2945 Weekly R2; All-Time Closing High (4/30/19)
2915 Monthly PP
29002901 Round Number; 20 DMA (declining); Weekly R1
2892 Last Week High
2880 Monthly S1
2864/2869 Sep 20118 Low; 10 DMA (declining); 50 DMA
2860 Last Week Close
28492851 April 2019 Low; Weekly PP
2810/2814 Weekly S1; Monthly S2
2796/2801 Aug 2018 Low; Round Number; Last Week Low
2777/2779 200 DMA (close 3.0% above); Monthly S3
2760/2767 Weekly S2; 100 DMA
2742 150 DMA (declining)
2719/2722 Weekly S3; March 2019 Low
2692/2700 Jun 2018 Low; Round Number
2674/2682 2017 Close; Jan 2018 Low; Feb 2019 Low
2660 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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