tigerw's Post
plcm
2 Replies:
Sent this email tot he FX ppl two days ago-- Just wanted to point out something I saw as I was looking at the long term S&P chart - it is coming up to the underbelly of the 20 month moving average, and during the past few years, this moving average has served as an important level, as you will see when looking at the chart. As this month comes to a close, it will be interesting to see where we close in relation to this 20 month moving average. The combination of this and the weekly reversal in the VIX pointed out last week is pretty powerful and something to keep tabs on. I also just wanted to say I really respect what you guys do, as technical analysis has been a passion of mine since I was a teenager (granted I'm only about to turn 24 in October).
Very interesting Arjun,
Thanks for pointing this out. The 20 month moving average is not something that we are used to so thanks for sharing this. You are correct in that it has been quite good over the years. Also in the short term we have just formed a 76.4% Fibonacci against the highs today so let's see where the next few days / weeks take us because if it is a little lower then we may have an interesting medium term setup
Thanks also for your kind words and please feel free to share any other thoughts you may have
Keep in touch
Best
