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Hi HAWK, take a look at this 40 Year Chart of the SPX from multiple perspectives we are putting in a top of significance. The Quarterly SPX is 44% above it's 200 period MA, much as we were in March of 2000.
The Linear Regression Slope is as overblown as 2000 and even worse than Oct of 2007
The 14 Period RSI is right at the same low 70 level that was the top in Oct of 2007.
The Bollinger Bands have stopped going above their upper line and are rolling over
The Keltner channel using the larger 3 parameter is showing how extended we are..
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So we know that we are up in very lofty never land, but we have been watching mass psychology roll over with issues of The unfairness of High frequency traders, The outright discussion on CNBC that the FED is rigging the Bond Market and Proping up the Equity Markets.......China is unraveling...... The geopolitical environment is deteriorating........We are going to be expeiencing 4 total eclipses... the first on April 15th .... it's know as a Blood Moon eclipse...and it is part of a very rare pattern of 4 consecutive total eclipses which will be occurring every 6 months the last being on Sept 28th 2015.
The cyclical occurance of this occuring during Passover and Sukkot .... has been discussed in WD GANN Literature.
we'll have to get a little closer to next week to get a better read on the impact on Global Markets. I am suspecting some unanticipated developments in the FX markets......
my best,
John
To explain what’s happening as succinctly as possible: on the 15th of April you’ll be able to see the first total lunar eclipse in a series of four (a phenomenon known as a tetrad to astronomers), which will also happen to coincide with the Jewish festivals of Passover and Sukkot in 2014 and 2015.
Keltner channel is a technical analysis indicator showing a central moving average line plus channel lines at a distance above and below. The indicator is named after Chester W. Keltner (1909–1998) who described it in his 1960 book How To Make Money in Commodities. This name was applied by those who heard about it from him, but Keltner called it the ten-day moving average trading rule and indeed made no claim to any originality for the idea.
In Keltner's description the centre line is a 10-day simple moving average of typical price, where typical price each day is the average of high, low and close,
 The lines above and below are drawn a distance from that centre line, a distance which is the simple moving average of the past 10 days' trading ranges (i.e. range high to low on each day).
The trading strategy is to regard a close above the upper line as a strong bullish signal, or a close below the lower line as strong bearish sentiment, and buy or sell with the trend accordingly, but perhaps with other indicators to confirm.
The origin of this idea is uncertain. Keltner was a Chicago grain trader and perhaps it was common knowledge among traders of the day. Or in the 1930s as a young man Keltner worked for Ralph Ainsworth (1884–1965) backtesting trading systems submitted when Ainsworth offered a substantial prize for a winning strategy, so it could have been among those. But ideas of channels with fixed widths go back to the earliest days of charting, so perhaps applying some averaging is not an enormous leap in any case.
Later authors, such as Linda Bradford Raschke, have published modifications for the Keltner channel, such as different averaging periods; or an exponential moving average; or using a multiple of Wilder's average true range (ATR) for the bands. These variations have merit, but are often still just called Keltner channel, creating some confusion as to what exactly one gets from an indicator called that.
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