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Walt,
Do you have the numbers on Dec Bean oil mixed up with something else?
I show BO trading at 2422 as of yesterday's close.
Ed Hanley
Walt Downs wrote:
> 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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