Above 105.5 would represent upside reversal. I will watch for it and trade to the long side if it pops.
Caught between the 30 high and 13 low MAs (zero slope) we will perhaps find direction sometime this week. Would take the trade either way.
A little above 187 appears as the proximate envelope boundary. I'd be a buyer for a continuation of the uptrend above that point. After a retrace over the last week or so maybe we get continuation.
Will a bad number Friday morning cause SPY to collapse now susceptible with a 3:1 containment MA just beloew?
Will GLD fail the containment MA below or break out above the envelope MA higher to possibly new highs?
The 13 day MA of lows in TLT is a great example of a potential cycle pivot. This is the current zero slope MA. After TLT broke the containment MA, this is now a critical MA to watch for possible next move.
4 days under the 4 day MA of medians. This to me is a very compelling level for a long and or when/if TLT breaks up through it.
The envelope of 8 day MA of highs shows a possible upside pivot. The 18 day of lows is about a 1.5 containment ratio and offers a downside opportunity.
USO horizontal 5 day MA of lows and envelope limit 5 day MA of highs point out two higher pivot levels.
7 days below the 4 day MA of highs. 3 days below the 3 day MA of medians. I'd be long on a higher high.
With SPY above the 6 and a half day moving average for about 15 days this is a containment ratio of 2.5. Pretty significant and I'd be short on a lower low.
It appears to me that TLT is now in the "value zone" Price now below the horizontal 11 day moving average of lows. I will watch carefully for upward penetration. Perhaps tomorrow and if not perhaps Friday with NFP. No guarantees this happens. Could continue to move lower. But if we get a rally I know where I stand and what I will do.
So I am going to try to share the template for this analysis so community can see what I am seeing. But here anyway is the indicator set if creating manually. Use the moving average of highs for the 3,6,9,12,15 day moving average of highs on the GLD chart. Look at the last 6 months or so. The MA is flat on these dates and would per the method indicate a short...
Short signal entered Friday with the flat MA 5 day of highs. Will look to take some profits on the way down this week if it progresses. The flat MA of lows above represents my reversal point. It may or may not ever be elected.
The chart shows the flattest MA of highs I can produce under the current price and I will use as my downside pivot and short position. The period length of this flat MA will change over time.
Let's see if GLD breaks back into the gravity channel and heads lower.