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SPX OUTLOOK WK 4/7 - 4/11


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#1 mss

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Posted 05 April 2008 - 12:01 PM

:)
As noted in another post it appears that a momentum bottom has been made. This does not necessarily mean a price bottom. There is indication that we do have a tradable top, 1406/1409 being the upper price point.
Also interesting there is a large change, TL break, in the R3 from 1406 to 1449, the Pivot went from 1329 to 1355, however S3 went from 1252 to 1260, a small change in comparison. This suggest higher movements up from a somewhat stable base. Only time will tell.

The updated chart now has "extended lines" to make viewing the price levels easier.

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Comments always welcome,
mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#2 Rogerdodger

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Posted 07 April 2008 - 09:24 AM

Very nice work for an old alley cat.

#3 mss

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Posted 07 April 2008 - 02:55 PM

Very nice work for an old alley cat.

:P have not been in an ally for a long time, just go into nice houses, #18 :D
Thanks for the atta'boy.
Posting the monthly chart of SPX. Do not try to compare these levels with any weekly levels. You would to overlay each week with the month to see the difference. The monthly suggests just that, monthly levels. Weekly can fit anywhere within the boundries. You can see only one break, plus a peek, of the lowest range.

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115
Comments always welcome,
mss

Edited by mss, 07 April 2008 - 02:56 PM.

WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#4 marco

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Posted 10 April 2008 - 10:53 PM

WOW. Do you manually plot those pivots by hand, or is there some program that automatically calculates and plots? I've never seen anything like that!

#5 mss

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Posted 11 April 2008 - 06:50 AM

:) I use EXCELL spreadsheet as a data source. Any data download you care to use is OK. Here is a brief outline of what to do: Pivot points are used primarily as support and resistance levels with the pivot point the best support/resistance level. Here is the formula used in pivot points (this is for each bar, regardless as to if it is a week, day, 10 min., 30 min., etc.): * the Pivot Point is the average of high, low and close * support level 1 is Pivot Point x 2 - High * support level 2 is Pivot Point - High + Low * resistance level 1 is Pivot Point x 2 - Low * resistance level 2 is Pivot Point + High - Low In some cases Pivot should be calculated using (open+high+low+close)/4 the monthly and yearly come to mind. Best to you, mss
WOMEN & CATS WILL DO AS THEY PLEASE, AND MEN & DOGS SHOULD GET USED TO THE IDEA.
A DOG ALWAYS OFFERS UNCONDITIONAL LOVE. CATS HAVE TO THINK ABOUT IT!!

#6 marco

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Posted 11 April 2008 - 09:40 AM

Thanks you for that. Very useful. You always have the most interesting tools to use. As a result of your posts, I've become a P&F and Three-Line Break afficianado. Happy trading. :)