The 56 Point TA; Charts With an Attitude Message Board

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Strategies & Market Trends : The 56 Point TA; Charts With an Attitude

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Doug R

To: Magnatizer who wrote (73956)	1/6/2024 8:51:51 AM
From: Magnatizer	1 Recommendation Read Replies (1) of 79450

Weekly DJI: CCI remains hot but turned down. White dashed uptrend are projected high/low for the signal bar. Should see a test of the red uptrend in the 36700s. If it sniffs and goes we're off to the races again. tradingview.com SPX: Bears starting to win this one. They won the yellow uptrend retest then rejected SPX from the key red uptrend. Also, neg divergence on the CCI. On the positive side, the bulls pushed the SPX to the top of the key uptrend channel (again, thick red). Resetting here to accumulate more inventory and get sentiment toned down is logical. tradingview.com NDQ: cross channel starting to work as a top. I like it to revisit the prior cross horizontal (15173-15512) for a test. Neg divergence forming on CCI tradingview.com RUT: Neutral here. Riding the cross bar horizontal and retesting key uptrend supports. Very logical. No divergence in the CCI tradingview.com SOX: Neutral. Key uptrend support held after it was breached. Neg divergence on CCI Broader view tradingview.com Close up tradingview.com DJT: Past 3 weeks it sniffed the horizontal from the most recent signal bar. Fell away from it this week. Not great for the bulls. If DJT is still a leader (I like SOX as being more important), this is a significant bear win. tradingview.com ME: key overhead held resistance. It's in need a regroup tradingview.com

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