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samsung

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Posts: 18
Reply with quote  #1 

Friday's rebound now has both S&P and DOW sitting right at some major down trendline ressistance...

 

The S&P made some new yearly highs, did a nice pullback too support at 1200, and in the last 2 weeks made another run at the highs again. It is now sitting at what might be a major ressistance down trendline (yellow dotted)  that iit has touched about 4 times. A break through this might indicate a move too the upper (white) trendline at 1250/60 which would be about the 61% retrace from the Mar. 2000 highs.......

 

 

 

 

 

 

 

The Dow over the last month has done about the same thing, but it has beat the down trendline to death,, 7 or 8 touches !!!!!  I think this will be a very interesting week.... Also FOMC week ???  All the best trading too everyone this week......

 

 

 

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mortiz

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Reply with quote  #2 

Hi Samsung,

 

When time allows, could you expand upon the oscillator-type indicators at the bottom of your charts?  Simple-minded farm boys such as myself don't always pick up on the obivous.

 

Make or break indeed with R&S lines and a lot of other indications; if the Fed overnight effective rate charged Thursday (3.67%) is any reflection of what their decision is next week wrt short term rates, looks like another 25 basis points up.

 

Nice symmetry with your trendlines!

 

Thanks,

 

Randy

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samsung

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Reply with quote  #3 

Hey Randy,

 

Sorry about no explanations on the chart, just keep them turned of most of the time.... For a simple minded person like myself,,, it has too be simple, I am not a code writter.....   The dark blue indicator is CCI @ 28 day MA. The yellow, light blue, and red are SMA's of the CCI indicator, yellow being 8, light blue is 13 and red is 29..  I use some different MA's for different Indexes and stocks. It is pretty simple and rather easy too experiment with.. Hope this helps......

 

OH,,, being an East TN. farm boy I would hate too even make a guess as too how many sticks of tobacco or bales of hay I have put in the barn???? Way too many !!!!!

 

All the best trading...

 

Sam.....

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