Replies to post #478 on Chart Ideas

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SPX daily chart including the NYA and Transports daily closes for the period since September 1, 2010:

Alert - * NYA $7439 and Transports $4906 resistance levels OR breakout levels are an ID data set which are working together, which is evident in this chart

* $1235.20 is one SPX price level of near-term interest for the bullish case, and is the green horizontal line marked on this chart ... successive daily and weekly closes above this level in the future will be important for confirmation ID

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updated BKX weekly chart ...

* including the SPX, NYA and BAC price action with the "customary" horizontal trading ranges marked

ALERT: as of November 30, 2011 the NYA resides near a potential inflection level - $7495 - any advance above this level will require close scrutiny for the eventual outcome, and be vigilant to monitor for a potential fake breakout or a breakout which actually continues

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updated NYA 60-min chart:

* notice that the SPX-EW (SPX Equal Weighted Index) is now seeing price action above a prior intraday high ... bulls want to see the outcome of this horizontal breakout continue to higher levels

NYA - the $7519.98 prior intraday high remains above the current price action



chart #2 - SPX-EW daily closes:

* SPX-EW - $1897.29 = the daily close breakout value

* RUT - $747.70 = the daily close breakout value

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SPX and NYA internals summary:

Jan 4 close values for:

54% for SPXA200R and >>> (54.52% = the Jan 4th value for the declining 200day sma for this chart)

42.05% for NYA200R

these are the % of index components above the 200day sma for the NYSE Composite Index and for the SPX

***** 55% has been validated as important since 1985 by Ned Davis Research as the level which is minimally required to support an advancing price structure *******