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hiker

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Reply with quote  #1 
related prior threads with weekly and monthly charts for SPX and OEX -

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2357114

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2331412

prior SPY thread -

http://www.websitetoolbox.com/tool/post/fib_1618/vpost?id=2339924

--------------

SPY 60-minute chart follows these comments about the chart -

interesting that price and the faster MA's continue to reside above the 200sma

for a "strong" support idea, which is also near where the unfilled gap resides...look to Nov 27th to 28th, at which time the faster MA's crossed above the 50ema...the crossover point ($144.30 or so) when the 15sma crossed above the 50ema is of particular interest even though it resides above the unfilled price gap.

Ted Burge horizontals..to my knowledge:

155.10
152.76
149.76
147.68 - only 15 candle closes below since Nov. 30th, and 3 of those were Friday...("what was resistance, has become support")
144.00
136.21

John Murphy has long-term trend horizontal support at $142.00, which contained the November low ($140.95 Nov 26th close).






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hiker

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Reply with quote  #2 
SPY weekly chart -

what is likely now most relevant as clues to SPY providing future price evidence that a firm foundation of support is now being created for the next possible rally attempt is:

the clarity with which the $144.00 and $147.68 horizontals have contained much of the prior trading ranges, and how once a horizontal becomes support or resistance, it defines a boundary of the trading range that follows.

note the absence of weekly closes below $144.00 in many weeks.





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hiker

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Reply with quote  #3 
SPY monthly and weekly charts, from Mat Mckee who has kindly offered to join this effort of providing chart views -

monthly chart comment - note the divergence of RSI trend with the direction of the price trend ...the RSI is shown as an overlay with SPY price





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hiker

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Reply with quote  #4 
intraday 60 min chart update..so far, test of yest. low has been successful and major H line resides below...Ted Burge H line of 144.00 has been corrected to 144.64, my prior error

.618 retracement has held?  with some overshoot to the downside




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hiker

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Reply with quote  #5 
SPY 60-min, intraday

to show the possible importance of 145.20 approx candle close from yesterday's first sign of the move up





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hiker

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Reply with quote  #6 
closing basis 60 min chart

what was once resistance is now acting as support..for now anyway



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hiker

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Reply with quote  #7 
SPY daily, courtesy of Mat Mckee


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hiker

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Reply with quote  #8 
60 min candle close data

what was resistance is now acting as support




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hiker

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Reply with quote  #9 
will $147.68 major horizontal now become support?

price has moved back above the 200sma on this 60 min chart.

60 min candle close data



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hiker

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Reply with quote  #10 
12/24

two consecutive daily closes above the $147.68 major horizontal

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