Replies to post #19291 on CHARTS_CCI_SYSTEM

[rimshot]

/ES bulls have defended
the 2680.50 to 2682.00 zone
during the March 7th overnight session
for at least the 3rd time since
February 6th, and usually in the overnight
session
( I am going by memory, and not taking the time
now to make a precise count )

* bears need lasting selling below
/ES futures 2682.00 at a minimum to achieve
a decline which continues for multiple
days

see February 22nd on this /ES chart
when the 2680.50 to 2682.00 pullback
support level emerged:



chart courtesy of eminiwizard

===========

the S&P 1500 index remains in a proven
stair stepping higher price structure until
$609 becomes lasting horizontal resistance
for price bounces during a future price decline

* bears are failing to take control while
price remains above the $609 level
- $579.99 level is also important



* see Edwards & Magee, the bible for technicians -
the Magee
Basing Points method of analysis has an overview
which can
be found within this 25-page slideshow presented
to the Market Technicians Association -
https://www.mta.org/wp-content/uploads/2015/10/0305-bassetti.pdf

be alert - the link launches a PDF

[rimshot]

SPX 2699.22 = 21-day sma at this moment

SPX price has not closed a single day below
the 21 dsma since last Friday's close

the SPX 21-day sma is only recently starting
to curl back to the upside; having a downward
slope since very early February 2018

Erin Swenlin's and Carl Swenlin's settings
used for daily PMO analysis reveal a flat
PMO for $SPX, XLF, XLV, XLI since a
time starting in February 2018 through March 7, 2018 ...
these symbols are directionless

XLY has downward slope to its daily PMO, while this
daily PMO remains above its zero line
for 2018