Replies to post #345 on Chart Ideas

[rimshot]

SPX weekly closes chart - chart #2 in the reply-to post - is now kissing the red support trend line

(as of the Thursday, July 28th, close)

[SilentOne]

hey Scott,

Drop like a rock indeed ...

Thanks for sharing. I was watching your charts early in July as check against by take. As always, very nice work.

cheers,

john

[rimshot]

SPX weekly by Gray18 -

* as stated in other posts at this board, the status of price action relative to the 89-week ema shown on this chart provides:

1. a price measure of current minimum risk, and

2. the ongoing visual for evaluating the extent of current price stability relative to this moving average

* other valuable information presented in this chart is readily evident

[rimshot]

updated SPX daily, monthly & weekly charts by gray18 -



chart #2 SPX monthly -

* the green line is the monthly 8,34,1 MACD overlay shown behind the SPX monthly price bars

* the white line is the monthly 5,21,1 MACD overlay shown behind the SPX monthly price bars



chart #3 SPX weekly closes -

* the white line is the weekly 8,34,1 MACD overlay shown behind the SPX weekly price closes shown as the green line

*** the SPX and other index prices are consolidating this week near the high of the August to November trading range, and a firm distance above the mid-point values for this trading range for each index such as SPX, OEX, NYA, RUT, NDX, COMPQ ...
so, this SPX weekly closes chart provides a helpful context for this high level consolidation below the November highs and above the mid-point value of the August to November trading range