Are S/R on an index ETF usable areas??

Discussion in 'Technical Analysis' started by lbhere, Oct 4, 2019.

  1. lbhere

    lbhere

    Great to hear from you, Murray. Was thinking of PMing some of the people I read often on here, you being one of them. Glad you wrote!
     
    #21     Oct 7, 2019
    murray t turtle likes this.
  2. %%
    Im looking now @ a 3 year QQQ chart- it knows a lot more than i do. LBhere. LOL. I seldom do private email. Except for a little bear market downtrend OCT-DEC,2018; notice how nicely QQQ Up-trends aboVe 200 day moving average.............................................................................................................Even on weekly closing prices, nice QQQ closes mostly above 200 day moving average. I printed something like that chart today, 3 year's worth of QQQ candle chart.:caution::caution:,:cool::cool::cool::cool::cool::cool::cool:
     
    #22     Oct 7, 2019
  3. ET180

    ET180

    SR Levels also work on ETFs because people directly trade the ETFs and indexes as lbhere pointed out. Take a look and you can find good levels. The 2835 area on SPX was tested in August 3 times on the daily chart. 3025 was tested July and September possibly forming a double-top (although with only two touches, it might be a bit too early to call it an S/R level). 2950 looks like another SR level that has been used many times as support and resistance. 2800 was an important level the second half of last year and continued through this year.
     
    #23     Oct 8, 2019