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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (68339)9/3/2022 4:15:15 PM
From: Magnatizer1 Recommendation

Recommended By
Doug R

  Read Replies (1) of 79432
 
Weekly

DJI

Cross bar high/low keys to next signal. The thick blue line has been sticky in the past, 2017-2020 and again early 2022.

All sorts of noise on this chart both above and below. Whichever signal we get from the cross bar (close above buy, close below sell) likely continues the trend into early October where the next cross occurs.

FWIW< in this system, Weekly associated tline crosses are uncommon. Having two this tight to one another is certainly an anomoly.



The thick blue line... formed Nov-Dec 2014 and



SPX

I am primarily focused on the monthly. Has a similar structure and trigger on the as the DJI on a weekly scale. It's next cross is later in Oct versus the DJI.



NDQ

On sell signal from the cross bar a few weeks back. Multiple supports in the area, potential for trench warfare between the bulls and bears is high in the horizontal: 11423 to 12682. Bears trying to take out June lows, bulls searching for short term traction.



RUT

On sell signal from the weekly cross bar a few weeks back. Has fallen back into the downtrend channel. Similar to NDQ here



SOX

Retest of the horizontal or chasing downtrends. Does make sense to revisit the downtrend breakout area. Another trench warfare zone.



ME

Down into cross week (sept 19) would be ideal for a low risk buy zone

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