A Little Surf Off The Cloud

By -

Since TK is in VA Beach, I felt the SOH east-side pressure to post something.  P.S. – Tim, you might want to avoid apartment buildings in that area(Editor: noted!)

 

Even with the recent weakness, the (simplified) SPX cloud chart still shows price well-above support:

5yr


Here’s a close-up view… we were in the cloud surf neighborhood, but reversed higher above the upper senkou line:

18mo

Although I threw today’s price action as of 1pm into the chart, we are still 27 points above that senkou support, which currently sits at 1350.70.  For those of you who would like to use the support data, the following table is the next 26 days:

Table

Share this post: