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- Last Update: 14 May 2022, 11:57
Support / Resistance Lines
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%27s. 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.
5/13/2022 Levels to Be Aware of
4797/4819 All-Time Closing High (1/3/22); Round Number; All Time High (1/4/22)
4730/4766 Prior Breakout (4730); Monthly R2; 2021 Close (YTD -15.6%)
4680/4700 Prior High (4680); Round Number
4637 High of seven weeks ago
4600 Round Number
4545 Prior High (4545)
4492/4500 150 DMA (declining); Round Number
4478/4480 200 DMA (declining: close -10.1% below)
4430/4442 Prior High (4430); 100 DMA (declining); Monthly R1
4395/4400 Prior High (4395); Round Number
4341/4340 50 DMA (declining); 10% below $SPX High; Weekly R3
4300 Round Number
4240/4283 Prior High (4240); Monthly PP
4190/4210 Breakout (4190); 20 DMA (declining); Round Number; Weekly R2
4100/4120 Round Number; Weekly R1; Double Bottom (4120)
4060/4081 Double Bottom (4060); 10 DMA (declining); Last Week High
4024 Last Week Close
3973/4000 Monthly S1; Breakout (3980); Weekly PP; Round Number
3875/3900 Breakout (3875); Weekly S1; Round Number
3855/3859 20% Below $SPX High; YTD Low (3859); Last Week Low
3800/3820 Round Number; Monthly S2; 62% Retracement
- 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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