| Followers | 680 |
| Posts | 141092 |
| Boards Moderated | 36 |
| Alias Born | 03/10/2004 |
Sunday, February 19, 2017 9:21:13 AM
75 Point Boxes On The $SPX
By Greg Schnell
* February 18, 2017
The $SPX has had a nice ladder effect going on recently. Much like the origins of technical analysis found in the early days, the market tends to move forward in ranges. These areas have been quite obvious recently. The range been support levels appears to be about 75 points on the $SPX.
Here is a copy of the chart I showed on The Commodities Countdown Webinar 2017-02-16.
While all the world is focused on the tremendous bull run, there is a pick up in the defensive sector charts and they have started to join the rally. While this is not bearish at all, it gives us a reason to watch to see if these defensive sectors start to outperform other parts of the market. As long as the defensive sectors are underperforming the market, the growth sectors will continue.
Good trading,
Greg Schnell, CMT, MFTA.
http://stockcharts.com/articles/chartwatchers/2017/02/75-point-boxes-on-the-spx.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
By Greg Schnell
* February 18, 2017
The $SPX has had a nice ladder effect going on recently. Much like the origins of technical analysis found in the early days, the market tends to move forward in ranges. These areas have been quite obvious recently. The range been support levels appears to be about 75 points on the $SPX.
Here is a copy of the chart I showed on The Commodities Countdown Webinar 2017-02-16.
While all the world is focused on the tremendous bull run, there is a pick up in the defensive sector charts and they have started to join the rally. While this is not bearish at all, it gives us a reason to watch to see if these defensive sectors start to outperform other parts of the market. As long as the defensive sectors are underperforming the market, the growth sectors will continue.
Good trading,
Greg Schnell, CMT, MFTA.
http://stockcharts.com/articles/chartwatchers/2017/02/75-point-boxes-on-the-spx.html
• DiscoverGold
Click on "In reply to", for Authors past commentaries
Information posted to this board is not meant to suggest any specific action, but to point out the technical signs that can help our readers make their own specific decisions. Your Due Dilegence is a must!
• DiscoverGold
Join the InvestorsHub Community
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
