My 8/22/20 SPX post noted the hourly Stochastic could become oversold at a higher level- the SPX was then at 3397. Today the SPX Stochastic reached oversold at a higher level. The correction may already be complete, if not the SPX could reach the value zone within the next one or two trading days.
Thanks for the comment. I will have an update this weekend.
jiukun
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Nice work as always. Just a question: how did you determine the "value zone"?
markrivest
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@zhilin,
Value zone comes from the 'Market Profile" method. It is simply a narrow
area where price overlaps several time. There's no specific way to set
boundaries, in this situation I just looked for highs and lows with in the over lap zone.
Mark
Spawn777
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Just a knee jerk resistance of 12000 on the Nasdaq imo