- Rank: 40
- Followers: 14
- Votes: 177
- Years Member: 16
- Last Update: 28 January 2020, 19:01
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.
1/24/2020 Levels to Be Aware of
3361 Weekly R2; Monthly R2
3338 Last Week High; All-Time High (1/22/20)
3328 Weekly R1
3329 All-Time Closing High (1/17/20)
3300/3305 Round Number; 10 DMA; Weekly PP
3296 Last Week Close
3282 Last Week Low
3272/3274 Weekly S1; 20 DMA
3231/3249 2019 Close; Weekly S2
3196/3200 50 DMA; Round Number
3183 Monthly PP
3095 100 DMA
3045/3070 150 DMA; Nov 2019 Low; Dec 2019 Low
3000/3005 Round Number; 200 DMA (close 9.7% above); 10% below $SPX High
2961 38% Retracement from Dec 2018 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)
This information is presented for education purposes only. StockCharts.com is not responsible for any comments, advice, or annotations presented on this page. Please review our Terms of Service for more details.