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Here is a post of a few TREX levels to be watching:
Dec SP500 968.29 867
Dec Bean Oil 69.14 67.03
Oct Platinum 432 410
Dec Silver 484 440
When watching these levels, remember that they are dynamic. If the
market trades away from one, it is very likely that it will hit the
other. Once a level is hit, it is very likely the market will head
for the other level. (Although it might take a while in the SP :).
Then again, maybe not......)
If you were to draw an imaginary line halfway between the two points,
this is often a good level to keep an eye on. If a market that has
been trading higher, suddenly reverses and trades BELOW that level
the odds are about 80 to 90% that it will hit the "low" TREX
projection. The reverse is true for markets that have been trading
lower, and reverse.
I should be posting several examples of gifs displaying the long
term TREX lines, and the TREX "breakout"indicator in a short time.
(TREX trades breakouts as well as reversal levels.
I think you will find this fascinating, as there are many examples
where a market blew right through a longterm trendline to get at
the TREX level. This would seem to indicate that they do indeed
exert a certain "magnetic" quality :). Anyway, it's cool to look
at.
I am still working on programming the short term TREX levels, and
other stuff......
Walt Downs
CIS Trading
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