ajtj's Post-Lobotomy Market Charts and Thoughts Message Board

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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts

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To: rimshot who wrote (29714)	7/8/2021 7:49:58 AM
From: rimshot	4 Recommendations of 97558

warned you on July 4th what I was expecting, and here is a follow-up showing three charts that explain the basis of my warning - odds are at least 70% & as much as 100% that $SPX 4270 horizontal level will not hold when tested from above, and that price will drop like an anvil once $SPX 4270 level actually fails to hold for multiple days' closes future bounces toward $SPX 4330 to 4338 zone, if any, are likely selling opportunities daily chart #1 - chart technicals for the NYSE common stocks only data set indicate a significant degree of negatively divergent lower bounce highs by the chart technicals over multiple days vs. the July 2nd through July 7th printing of new all-time-record price highs for $SPX and $OEX, & others bears want to see even deeper levels of red in future days by the NYSE common-stocks-only daily count of net Advancers minus Decliners stockcharts.com fyi - the most recent $SPX 2.2% decline in June was accompanied by back-to-back double tap of the $SPXEW daily 21,3 lower Bollinger Band with literally zero hours below the LBB ======================================== $SPX bulls need this S&P 500 metric to improve instead of continue to decline: chart #2 - daily plot of the percentage of the 500 stocks within $SPX for which their individual 20-day EMA's reside above their individual 50-day EMA's - * the chart has been revised to include set of Cyan-colored horizontal lines marking each successive recent low stockcharts.com chart #3 - $SPX weekly chart also showing the weekly closes for the condition of the Silver Cross metric, which represents the plot of the Percentage of index components for which the 20-day EMA resides above the 50-day EMA stockcharts.com * normally, the daily chart is reviewed for the condition of the Silver Cross ... the weekly closes view shown above facilitates vigilance for the week to week trend vs. the 5-week SMA for the Silver Cross conditions for: $SPX $OEX $NDX $MID $SML ======================================== sequence of recent /ES new all-time record price highs in descending order: 4353.25 4347.00 4312.00 4306.75 4291.00 4282.00 4276.75 4266.25 4263.75 4260.50 4258.25 4248.25 4245.00 4226.25 4219.75 4219.00

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