Home Forums Hunting & Shooting Hunter's Campfire In one chart, what your 2 Trillion dollars bought you.

Five minute bar chart of the SPY (ETF for the SPX).

Blue line = 50 period simple moving average
Red line = 200 period simple moving average

Notice the change in trend at the open of the 24th.

sniper,

thanks, but a request for some us non-market types.

In your first posts on a subject, explaining things like would help understand what you're trying to get across. After the first post arcane acronyms are easy to deal with if explained first.

Having had a bit of a general education, I'm hazarding a guess that the "SPY" has something to do with Standard and Poor's?

Hopefully I'm close, as the trend line looks better than a downward continuation of whatever was going on.

Geno

Yea, wanna hear your perspective but photobucket no comprende and some of these guys don't understand the SPY.............

Sure Geno,

Let me help you out.

The SPX is short hand for the Standard and Poor's 500 index. It's a market cap weighted index (companies with more market value cause it to move more) comprised of 500 of the most significant companies in America.

You need a usable financial instrument to actually trade an index. An Exchange Traded Fund is kind of like a mutual fund you trade like a stock. In this case the SPY (called the spiders) in an ETF designed to mirror the S&P 500 index. Each point of the SPY is roughly equivalent to 10 points on the SPX.

Back on February 20th, the SPY was around 337 before it started falling off a cliff.

Beginning March 4 the index began forming a very negatively sloped channel. The fall was actually much worse then it looks on this chart. I zoomed in to make it easier to see the prevailing trend.

As you noted, this trend reversed at the open on the 24th. That's not exactly true. Over night the S&P futures were down something like the equivalent of 800 DOW points, before reversing on word of a deal, and giving us the uptrend that began that morning.

Let me know if you would like some additional clarification.

Thanks.

WTF is with the watermark.

No need for further clarification. That's about what I thought it was.

Did SPX used to be noted as SPI..........a long time ago? Maybe I'm dreaming.

And I'm happy (right now) that things are looking rosier.

Thanks again for the info.

Geno

Wow,
That's a new one on me. I guess I need a new hosting service.

Am I correct to see the slope of the up trend as shown to be considerably steeper than the slope of the down trend?

oooohhhweeeoooh.

Weird schiedt happening here.

There isn't a watermark on your chart at the top of the page I'm looking at now.

Geno

looks like it to me kingston,

but like all things statistical it might change some with some more data points.

I'm hoping those points aren't below the recent ones.

Geno

It’s my understanding that everyone who isn’t a paying subscriber, gets this watermark.

You might consider http://www.postimages.org

Geno,

I think it's been the SPX since it's inception, all the way back in 1957. Now S&P does have a variety of other indexes, and probably some discontinued ones as well, so it's possible there was a SPI index, but since 2016 that symbols belonged to an energy company.

Again, really weird to me that I'm not seeing the watermark here.

Geno

Roger that,

Geno

Keep in mind, that uptrend is only 3 days worth of data, where the down trend is closer to a month, and has some one or two days rallies along the way, but yes, so far, this is a very sharp upswing. In my 35 years of market watching, I've never seen a reversal like this. I sure hope this trend holds. 260 will be a bit of a test, and 280 will be another, more significant test, providing we make it that far on this run, or at least that's how I see it.

Time will tell, but I’m still predominantly in cash.

They’ll need to print $20 trillion before the end.

Ain’t gonna do anything but cost me more tax dollars.