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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: the longhorn who wrote (153764)	2/13/2021 5:49:07 AM
From: GROUND ZERO™	2 Recommendations Recommended By Hawkmoon Mevis Read Replies (3) \| Respond to of 222929

Breeze's posted charts are enormously helpful, he has a wonderful way of illustrating the location of these markets near and longer term, his charts are a valuable asset... His charts show the markets themselves and their projected positions based on current standing according to the models he uses, I study his posted charts closely, they're very helpful... The graph I just posted shows something different, it shows the relative level of relationship of all the SP 500 stocks and where they are to the 200 DMA... this doesn't mean these markets must top out here, but it does illustrate clearly that the market is a bit top heavy right now and prices may have gotten ahead of themselves for now... We had a reset top in October of 2018 when the level was at 73.20% and another one in February of 2020 when the level was at 87.17%... these tops are only resets, and there's no reason we can't see another one at some point considering the current level of stocks this far above their 200 DMA... we're currently at 92.18% which is higher in more than 3 years which is as far back this graph goes... Here's the $SPX monthly chart going back 20 years... We can see that on a percentage basis, there is nothing in the past 20 years that compares with today's current high relative level... this graph shows the weighted, simple, and triangular 200 DMAs... GZ