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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (70340)3/12/2023 10:09:47 AM
From: Magnatizer1 Recommendation

Recommended By
Doug R

  Read Replies (4) of 79450
 
Weekly update

Moon signal last week was clearly sell.

I'm looking for target area's for the next bottom here. Focusing on area's that were not fully vetted. I will initiate long positions in these zones using daily charts to find entries. No rush to get to 100% long as CCI 55 on the weekly scale has broken uptrends almost across the board.

DJI

Oct 3 tline cross bar: Range: 28855 to 30454



SPX

Bottom of cross Oct 24 cross bar: 2741



NDQ

No identifiable areas below which need testing. The tline cross channel above as sniffed in late January, it needs more work.



RUT

No identifiable zones but this downtrend it's testing needs to be defended by the bulls. it formed Feb 21 to Feb 22 and essentially held a channel for the index since formation. The bulls cannot give up the lift they put in to pull away from it in January.



SOX

Nothing on the should retest front. Does have cross coming in early June. If the other tech indexes fail here down/sideways into that cross is high potential.



DJT

12861 has my attention



ME

Still has that 45069 to 47432 area that could use testing. Thought we were going to see it after the weak finish to 22 but ME decided it wanted to test the overhead first. ME is neutral to me here. Regaining that overhead horizontal area would be a significant win for the bulls as the bears defended it thus far but can't seem to keep any downside momentum.

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