Replies to post #323553 on SPDR S&P 500 (SPY)

[TechniTrend]

You need to work with daily closes

Intraday movements are just interesting...

The next key data I can extract from the OEPM factor and price action is the probability of a reversal in price action.
This is where the S/R levels become very informative in determining the next expected price action. ANY CLOSE above/below the S/R levels portends a HIGH probability of the next S/R level being at the very least TAGGED (touch on a intraday basis only), and maybe even a CLOSE above/below that S/R level.
The rules SUGGESTt that as price CLOSES above or below S/R levels that a re-test of the previous level is highly expected (or a high probability exist). And if that re-test holds on a CLOSING basis, expect a continuation of the Up or Dn action being confirmed!