selected charts which present at least one single price value which is now horizontal resistance AND/OR the new breakout value and confirmation ID for a potential further rally leg:
I am posting this for Glen in particular, with whom I have exchanged emails over the years discussing the topic of Trend ID
* my post at this board a few weeks ago stated:
SPX "brain-dead" signal to hold long above $1251 or hold short while below $1251
chart #1 - Dow theory buy signal now in play for several months has been further confirmed by the INDU and TRAN daily closes advancing above the Sept to Dec daily close high for both the INDU and the TRAN
* notice the Transports' horizontal value where price is now testing from below .. a breakout, if any, which holds above this level for a period of time will be a significant chart event
chart #2 - SPX daily
for several indices shown in this one chart, at least one single price value is presented which is now horizontal resistance AND/OR the new breakout value and the confirmation ID for a potential further rally leg
chart #3 is the SPX daily chart repeated from a prior post I made at this board
SPX "brain-dead" signal to hold long above $1251 or hold short while below $1251:
* the hits near the $1249 to $1251 price zone by the daily SPX price bars are more numerous than most other price levels since 2005
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