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   Strategies & Market TrendsSPY & QQQ intraday chart observations by rimshot

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To: rimshot who wrote (1291)9/22/2023 10:38:07 AM
From: rimshot
1 Recommendation   of 1309
SPX 4347.76 = today's bull / bear Pivot value for Sept 22

valid for today only

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To: rimshot who wrote (1292)9/22/2023 11:10:51 AM
From: rimshot
   of 1309
SPY 435.11 to 435.70 are key possible Up targets in coming hours or days

* future Upward Staying Power relies upon surpassing this price zone

so far:

444.97 = week High
431.23 = week Low ( lower lows printed in Thursday AH session )

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To: rimshot who wrote (1239)9/22/2023 12:05:54 PM
From: rimshot
1 Recommendation   of 1309
$NDX recent battle at the rising
100-day SMA

* also attempting a 4 X bottom over recent months, considering
daily closing prices ... time will tell

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To: rimshot who wrote (1293)9/22/2023 1:47:40 PM
From: rimshot
1 Recommendation   of 1309
SPY 429.90 = next lower down target is possible in coming hours or days

once 431.23 low of week fails to hold

432.52 = Resistance for new bounces, if any

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To: rimshot who wrote (1241)9/23/2023 1:29:00 PM
From: rimshot
1 Recommendation   of 1309
Scott's daily charts for five indices showing
the ROC-25 smoothed with the 5-day EMA & 55-day EMA
for trend interpretation of the positive or negative net
Buying Power minus Selling Power when compared to the ROC zero line-

* Scott (RIP) smoothed the ROC in order to avoid trend identification whipsaw

( ROC stands for Rate of Change )

Scott's daily ROC-25 charts for each major index,
smoothed with two moving averages for the purposes of:

1.ROC-25 moving average crossover vigilance

& line crosses by either one of the two ROC moving averages
are in a bullish location if above the ROC zero line
in a bearish location if below the ROC zero line ...

optimally the chart condition for both Moving Averages is required
to confirm the probable directional Staying Power of any future
upward or downward price action

*the ROC-25 smoothed with the 55-day EMA
has been pointing down toward the ROC zero line
for all indices

* Note - veteran technicians consider the $VLE technicals
as especially reliable for divining the US market direction

" The Rate-of-Change oscillator measures the speed at which prices are changing.
An upward surge in the Rate-of-Change reflects a sharp price advance.
A downward plunge indicates a steep price decline.
Sustained advances often start with a big surge out of the gate.

Subsequent advances are usually less sharp and this causes
a bearish divergence to form in the Rate-of-Change oscillator.

It is important to remember that prices are constantly increasing as long
as the Rate-of-Change remains positive. "

( )

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To: rimshot who wrote (1292)9/23/2023 1:49:05 PM
From: rimshot
   of 1309
$SPX - Friday's Sept 22 daily close and intraday price low
violated the intraday lows which took place on:

August 18
June 26

$SPX daily -

* the rising 144-day EMA has not been breached
* the 55,2.1 %b rests within the customary buy region

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To: rimshot who wrote (1297)9/23/2023 5:08:57 PM
From: rimshot
   of 1309
$OEX daily chart -

* 55,2.1 %b now rests in the customary buy region
* 15,3,5 Full STO is fully Oversold
* June and August pullback lows have not yet been violated

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To: rimshot who wrote (1297)9/24/2023 12:03:56 PM
From: rimshot
1 Recommendation   of 1309
SPY 434.84 = 100-day SMA current value, at Sept 22 close

SPY daily closes chart -

* the S&P 500 McClellan Oscillator approaches the Maximum Oversold
value region, the McO is now at negative 77 level

* price action near the daily 63,2.0 lower Bollinger Band value is customarily
a buy trigger during bull market conditions ... now at 431.22

* a somewhat bullish condition continues for the 10-day EMA smoothing
of the SPX New Highs minus OEX New Highs metric which
is now at 6.23,
which is below its July peak near 40 New Highs for the adjusted
S&P 500 minus the S&P 100

some items to consider for selecting a directional bias for swing trading
in the future:

1. if a future OEX rally surpasses and holds above 2040 level,
keep your SPY and QQQ longs once entered for a possible lengthy hold
because any SPY bounce level would be within reason in the coming days/weeks

2. the individual daily net Advance - Decline values for each index were tiny negative
values compared to the giant negative prints by the AD values on Thursday ...
so the lower intraday price lows printed on Friday were relatively not supported
by similar negative moves by the daily AD values

lower intraday low prints on Friday vs. Thursday's intraday low:

QQQ by only 10 cents
SPY by a decent margin
OEX by a decent margin
/ES by a decent margin
$SOX printed a higher low on Fri vs. Thurs

fyi - $NYA price action is only barely below its 200-day SMA, and Friday wasthe 1st time in several weeks ... matching with a decently deep violation of the
daily Lower BB not seen since mid-August from which price bounced strongly

$NYA daily closes line chart -

* could be a "near" double bottom setting up, using daily closes vs. the June 2023 pullback

regarding QQQ, this Weekly metric now rests within the upper reaches of its
customary buy zone -

$NDX daily cumulative AD line now rests near its customary buy point - the daily 50,2 lower
Bolllinger Band when bull market conditions persist over time -

$NYA above OR below its 3-year simple moving average (156 weeks ) provides
evidence whether we are at the confirmed start of a possible deep
price correction or not

$NYA weekly -

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From: rimshot9/24/2023 12:12:09 PM
   of 1309
FYI - I will have no internet or cell signal from Sept 24 through at least
Sept 29, while camping & hiking

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To: rimshot who wrote (1264)11/3/2023 10:03:34 PM
From: rimshot
2 Recommendations   of 1309
Larry McMillan - Friday November 3, 2023 blog update

my summary of reading his update is that his
line in the sand has a value of $SPX 4,400
coupled with other considerations he will abandon his
actual trade $'s in play for his current bearish bet,
and if other items confirm he will consider
an actual hold for at least two days above the $SPX 4,400 level
to be very bullish

4,393.57 = the mid-October 2023 intraday high

$SPX daily -

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