Just learning how to read these charts. Do these indicate that the MA(50) are "support lines" for the current Dow and S&P 500 - indicating that they are likely to remain above those lines for the near future?
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Just learning how to read these charts. Do these indicate that the MA(50) are "support lines" for the current Dow and S&P 500 - indicating that they are likely to remain above those lines for the near future?
The lines are just points of reference. The 50 and 200 day moving averages are among the most common. They can be either support or resistance depending on whether price is above or below them. It helps determine the trend as well. Other averages can also be used depending on what time frame a trader is interested in. TSP does not lend itself to short term trading (generally speaking), which is why I use the longer averages.
The bulls came out swinging today, as price gapped higher and stayed elevated throughout the trading day.
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The charts are sporting fresh highs on a bit more volume.
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Breadth remains bullish.
It hasn't been a rocket ride, but NAAIM's bullishness has been correct as far as the market is concerned.
I remain bullish.
Looks like Up/Down, Up/Down, Up/Down to me! If I had 8 IFTs I could have made some MONEY!!Attachment 46837
Hi Flalaw97, I love reading this TradingSim site as it contains tons of info. You can click on lessons 3, 5 and 8 for Moving Averages under Technical Overlays. But there is so much more...if you click at top on Technical Analysis, you will see a whole other realm! :smile: It can be a bit overwhelming to see this much stuff. But you can bookmark it and read when you like. This site is one of my favorite resources. Best Wishes! :D:D:D.
https://tradingsim.com/blog/category...ay-indicators/.
Also, love Stockcharts.com Chart School.
https://school.stockcharts.com/doku.php
We got more up/down action today, but the bulls closed out the session near or at the high of day.
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Price posted fresh highs again. For reference, the peak on the S&P is still about 100 points higher.
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Breadth hit a fresh high as well and remains bullish.
I remain bullish.
The bulls continued their win streak today (4 in a row).
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The sideways action we experienced not long ago is fading away as price continued to post fresh highs on the current uptrend.
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Breadth continues to look very good.
NAAIM report tomorrow.
I remain bullish.
We got a mixed day of action today as the S&P 500 made it 5 up days in a row, but the DWCPF closed modestly lower.
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The charts remain decidedly bullish. RSI is getting close to overbought, but that's not a big concern with the smart money being bullish.
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Breadth dipped just a bit and remains bullish.
NAAIM was relatively unchanged today and remains solidly bullish.
I don't mention precious metals often, but I follow them closely and they are on tear; especially silver. I am convinced that that train is just getting started too.
I remain bullish.
The bulls posted significant gains last week.
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We can see that price is slowly rising along with the 50 and 200 day moving averages. The long term trend is up.
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Breadth hit a fresh high on Friday and remains bullish.
We are heading into a new week with the smart money still bullish after last Thursday's latest sentiment reading. TSP Talk remains bullish, but I noted some shifted to a more neutral stance.
After last week's gains, it would not be a surprise if the market sees some degree of a pullback soon. But the trend does remain up and the smart money is in the bullish camp. I remain bullish.