7 replies to this topic

[hiker]

technical damage has been done

now the pattern has the bulls on the run

[hiker]

SPY 10day sma is now representing resistance...it was support for 5 prior days will repeat what I have said here the last few weeks 1476 SPX horizontal has represented major horizontal R for every weekly close since the move below 1476 in late July. the chart pattern can be understood using this 1476 horizontal for analysis of rally failure to date...it is so because 1476 has not recently been overcome in a significant way on weekly closes...this trumps t/l analysis and price channel analysis in this volatile market...and most certainly trumps any perceived support or resistance analysis using moving averages. horizontals for SPX based on long-term daily 1525 1476 1447 1432 1404 1370

Edited by hiker, 07 September 2007 - 02:29 PM.

[Jnavin]

1432 ought to show at least temporary support. Below that is a serious problem.

[hiker]

1451 is S4 with the 200day ema nearby

[NAV]

horizontals for SPX based on long-term daily

1525
1476
1447
1432
1404
1370

Hiker,

How do you arrive at these numbers ?

[hiker]

Ted Burge arrives at these horizontals from the long-term daily(since approx. 2000), and I use them because he is so widely followed and has advertised these levels for many mos. now -

http://stockcharts.c...et?obj=ID445101

Edited by hiker, 07 September 2007 - 02:46 PM.

[NAV]

Ted Burge arrives at these horizontals from the long-term daily(since approx. 2000), and I use them because he is so widely followed and has advertised these levels for many mos. now -

http://stockcharts.c...et?obj=ID445101

Do you happen to know what is it based on ?

[hiker]

http://www.tic-tac-d...m/ITSABOUT.html

it is pretty obvious if you plot those horizontals above on a daily or weekly chart for recent years.