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hiker

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Reply with quote  #1 
continued from this thread

http://forums.technicalwatch.com/tool/post/fib_1618/vpost?id=2357114

OEX daily chart, courtesy of Mat McKee...preceded by OEX 60-minute

note Friday's low vs. 685 major horizontal...200-day ema just below (SPX closed Friday below the 200-day ema at 1474.07)

50day ema now resides near the prior 696 horizontal breakout point on the 60 min OEX...will price move back above 696 in the near future?





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hiker

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simple SPX weekly and daily... closing basis today





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hiker

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Reply with quote  #3 
SPX monthly





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hiker

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Reply with quote  #4 
today closed up.

for the future, watch retracements of the afternoon run with this week's high and last week's low (1465-1467) resistances of interest

SPX weekly..bottoms above bottoms (an unbroken uptrend)  remains in play AND no weekly closes below 1432 for 8 mos.





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hiker

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Reply with quote  #5 
OEX weekly, intraday....will support be regained?

the uptrend defined as a pattern of higher lows has not yet changed.

weekly continues to look like a double-bottom formation with the Aug and Nov lows.


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hiker

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Reply with quote  #6 
SPX daily, intraday

2.5 days in the lower BB and below 1457..is this a new trend forming following the attempted move into the upper BB?  or simply a retracement of the most recent move up? closing basis fib calcs of the recent move up, shows yest. low surpassed the .707 fib retrace.





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hiker

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Reply with quote  #7 
weekly, intraday basis..the strongest negative at the moment is that price remains below 1455...no breakdown of the higher lows yet. no weekly close in 8 mos. below 1432 yet..





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hiker

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Reply with quote  #8 
SPX closing basis weekly...higher lows remains in play


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hiker

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SPX daily

one technician I know believes the pattern remains constructive going forward while price remains above today's afternoon low of 1445



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hiker

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Reply with quote  #10 
SPX weekly

price remains in the lower BB for now.

a consistent pattern of higher lows since 2003 and for all of 2007, and no weekly closes below 1432 for +8 months (horizontal basing behavior)

Wednesday's 1445 intraday low provided the intraweek "higher low" pattern from which the end of week rally launched.

1489.56 to 1490 has been a minor daily horizontal going back to June 2007 that now resides overhead.




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hiker

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Reply with quote  #11 
SPX daily showing 1489.56 minor horizontal

100day sma remains overhead (as does the 50day sma, not shown on chart)



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hiker

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Reply with quote  #12 
the reversal price action near a major horizontal for both XHB and XLF is an influence on the current SPX rally -

in both cases, this coincides with successful  retests of the early December low:

XHB -

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2331704

XLF -

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2331715

IWM - rally took price to the daily downtrend line -

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2371203


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hiker

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Reply with quote  #13 
OEX weekly

this one also pauses below the weekly midline BB





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