DJIA Key Earnings Level Drops to 17769 as of Aug 2

INDEX:INDU   DOW Industrials [Test]
694 10 8
The sum of all of the KEY LEVELS of the DJIA             stocks that have reported as of August 2, 2015 represents a resistance level if the market is below it or a support level if the market is above it.

The latest batch of earnings from the oil             sector have weighed down the number ( CVX             , DD             , XOM             , in particular) from 18,150 down nearly 400 points to 17,769.

The interesting part is how the market peaked right at the KEY LEVEL in the recent run-up after it had violated the widely followed 200 day moving average. I graph the 1-year moving average or 253 days because I believe that is even more useful than an arbitrary 200 days.

Use this information however you wish and feel free to comment and review the past charts of this time-consuming calculation.


Tim 3:41PM EST August 3, 2015

I can post an additional chart that has each symbol with a box on the date that it reported, but I want to get this chart out to you all right now. Thanks.
Subscribe to my indicator package KEY HIDDEN LEVELS $20/mo or a discount for a year and join in the trading room KEY HIDDEN LEVELS here at TradingView.com
It made it to the target.
+1 Reply
I took a short near the then key level at 17769, worked great.
Tim, FED raising rates is just a dream, USA economy did not improve at all at 0% interest for the last 6+ years, a report this week shows the number of USA homes repossessed by lenders is up +22% compared to 1st quarter 2014. All those big boys buying USD and selling metals will lose big when the fat lady sings.
timwest PRO JuliaEmilyHanania
The best thing we can do is follow the earnings trend in the S&P500 and that has been flat to declining in the past 2 years using GAAP accounting. Stock buybacks, decent profitability levels overall and low Fed and Central Bank inspired interest rates is the reason the market is as high as it is. The valuation of internet-related technology names is a problem for the Fed as they see stocks as the bubble right now. The Fed would like to spur some of the money that is hiding in stocks to move into the real economy and the current high value of stocks will draw more private companies to go public to capitalize on the very high prices people are paying for growth and innovation.
Here are the boxes for each stock _____ Lots of detail for you.
For the individual stocks earnings levels, you track the indicator in Key Hidden Levels' value from the last earnings report? (to get the % of stocks above or below the key level)
I didn't have a use for this chart until now. Trying to dissect it.
+1 Reply
timwest PRO IvanLabrie
I made a spreadsheet to follow the information at Google Docs. You can see it there with this link. https://docs.google.com/spreadsheets/d/1lCbBNpb5SoRE5YSLgHEt3uBZ0aG1dnxVF1oacrm8z2c/edit?usp=sharing
+1 Reply
Excellent, thanks a lot Tim.
Great work Tim, I wish we had a larger data set. You may have found the basis for the big picture algo's!
Always interesting to see the market's reaction to these levels.
+1 Reply
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