I use the concept of a level being defended by either a buyer or a seller to find potential buying or selling opportunities. This is a specific pattern that can be identified on a chart. Let's consider one variant of this pattern. In this variant, the defense of a level by a buyer looks as follows: a buyer's candle closes above the level. Then, a seller's candle...
Notice the long periods of high correlation between tonnage trucked and the major indexes (spx500 shown here)
Another set of FRED data that I think many are unaware of, so I thought I would bring it to their attention.
Enjoy and share your thoughts.
Much love and manage your own risk
GL HF
xoxo
snoop