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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.
11/20/2020 Levels to Be Aware of
3646/3667 All-Time High (11/9/20); Weekly R2; Monthly R2
3626/3629 All-Time Closing High (11/16/20); Last Week High
3600/3609 Round Number; Weekly R1
3573/3577 10 DMA; Weekly PP
3558 Last Week Close
3525/3544 Weekly S1; Last Week Low
3492/3500 Weekly S2; Round Number
3469/3476 Monthly R1; 20 DMA
3427/3440 50 DMA; Weekly S3
3394/3400 Feb 20 High; Round Number
3374 100 DMA
3330/3351 Battleground; Monthly PP
3280/3300 10% Pullback from $SPX High; Round Number
3200/3231 Round Number; 2019 Close
3143/3153 200 DMA (close 13.2% above); Monthly S1
3093/3100 62% Retracement; Round Number
3000/3035 Round Number; Monthly S2
- 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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