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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude
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To: Magnatizer who wrote (71054)6/11/2023 10:35:41 AM
From: Magnatizer1 Recommendation

Recommended By
toccodolce

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Weekly

DJI

Testing overhead resistance. full week of activity 100% clear of the horizontal support. Daily is approaching a key overhead downtrend. I expect the bears to put a focus on defending the low-mid 34000s. I also expect they will ultimately fail.



SPX

Released itself from the coil it built going back into early 2022. Also stayed clear of supports for the 2nd week.



NDQ

The overhead grey trendline is the top of a significant uptrend channel (Feb 16 to Jan 18 anchors). Chart tells the story. When the NDQ finishes with this channel it's going to rocket north. Similar to DJI, bears will be out to defend this territory



RUT

Hitting key overheads last week. Bears defending. Similar story here



SOX

uptrend into the cross bar but a minor pullback into it. Continuation here would be a powerful move north. The horizontals are drawn, just waiting on the signal. I am riding this still with a 1/2 long SOXL position, my money on the bulls.



DJT

Pulling north of the recent cross bar horizontal channel. Good start for the bulls



ME

Bears let the bulls get back to the horizontal. They did keep the close below it but the bulls are in position to explode north here.

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