SPY & QQQ intraday chart observations by rimshot

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Strategies & Market Trends SPY & QQQ intraday chart observations by rimshot

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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 & 2.zero line crosses by either one of the two ROC moving averages are in a bullish location if above the ROC zero line and 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 stockcharts.com stockcharts.com stockcharts.com stockcharts.com stockcharts.com * 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. " ( StockCharts.com )

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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 stockcharts.com

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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 stockcharts.com

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

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From: rimshot	9/24/2023 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 and 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 - stockcharts.com

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To: rimshot who wrote (965)	11/18/2023 10:40:45 AM
From: rimshot	2 Recommendations of 1309

ISM Manufacturing PMI has been below 50 (in contraction) for 12 straight months, the longest down streak since 2008-09 t.co

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To: rimshot who wrote (937)	12/2/2023 3:59:47 PM
From: rimshot	3 Recommendations of 1309

S&P 500 - count of # of new 52-week intraday price highs, daily chart - stockcharts.com * 13% of S&P 500 members ( 65 new Highs ) have made a new 52-week price high on Friday December 1, 2023 ... this represents the largest count since early July 2023 * Important note - the $SPX vs. $NYA daily ratio is shown at the bottom of the above chart, and observe that when the ratio declines for multiple days or weeks the $SPX price *action eventually* always suffers price damage while the ratio declines ... this occurs because the price action by the now 2,940 active symbols comprising the NYSE are not " in sync " on a relative basis with the $SPX price action ============================================================= daily chart # 2 - 55 = the Friday December 1 count of # of SPX New Highs minus OEX New Highs** ... which is below its July peak at 66 and below the June 2023 peak at 71 daily chart counting the # of New Highs adjusted by: S&P 500 minus the S&P 100 stockcharts.com

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To: rimshot who wrote (18)	12/3/2023 2:25:09 PM
From: rimshot	2 Recommendations of 1309

John Bollinger, CFA CMT briefly explains how to identify M-Top & W-Bottom patterns by comparing: 1. the chart pattern of the %b to 2. divergent directional movements by price action YouTube published Wednesday November 29, 2023 * scroll to 15 minutes into the video where identifying divergent patterns by the %b vs. price action is explained John Bollinger: What’s Behind The Bollinger Bands youtu.be here is my version of the SPY daily closes chart using the 126,2 BB and 126,2 %b - stockcharts.com ( 126 days = 6 months of trading days ) Note - in this chart, the price history is adjusted downward by the amount of each quarterly dividend paid, which chief technician John Murphy determined at StockCharts.com is the default chart assessment view ============================================= The Market Timing Chart Pack is a collection of charts John Bollinger uses to forecast stock market movements. It is updated weekly and is available to all BollingerBands.com visitors. Guidelines for the Market Timing Chart Pack can be read here. bollingerbands.com

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