S&P 4300 Tested Again, And Failed Again | David Keller, CMT | The Final Bar (06.09.23)

Host David Keller, CMT wraps the week with a reflection on the long-term structure of the S&P 500 clarifying the importance of the 4300 level. He answers viewer questions on bar vs. candle charts and how technical analysts can derive very different conclusions on the same charts.

00:00 Intro
00:57 Greeting
02:18 Wrap the Week
12:32 Contact Us
13:20 Upcoming Events
13:52 Q1: How do you reconcile such contrasting forecasts by your guests who are all great CMTs?
16:12 Q2: You often say, “That’s a good-looking chart.” What should we look for to make that determination?
18:42 Q3: Where can I find the Percent From Moving Average indicator?
20:39 Q4: Why can’t I find Bullish Percent Indexes for industry groups?
23:49 Q5: Why are bar charts better than candlestick charts?
26:19 3-in-3

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[ericson]

I always go here for my daily and weekly market recap. Thank you The Final Bar team...More Power!!!

[ridzuanali]

Thank you, David. God bless. Take care. Stay safe.

[savalaimanohar]

Thanks for answering my question on "reconciling diverse and wide ranging interpretations" of the charts/markets by such great market technicians! Your answer Dave was measured and scholarly in nature. Thanks. Yes, you are doing a great job by bringing guests who hold very different views! I learn at least one thing from your daily shows. Today, it is the phrase, "Power on stall"!! What a nice phrase! It almost implies the "stall" is going going to be broken! Let us see what happens next week. The trend is your friend, right? TA 101!! 🙂
Mano
@3pinvestor

[sridharv]

It sounds like deja vu...first it was 4100, then 4200, and now it is 4300. The market kept teasing us and then broke above those levels.

[moonmonk]

Lest we forget, the VIX is at a 40-month low.

[RussAbbott]

Those who defend market-based economics (and I include myself among them) argue that price signals are among the most important information when deciding how to allocate resources. Of course, you are always arguing that price is what matters when following markets. A problem with combining these two perspectives is that stock prices tend to be so volatile that one would likely get badly whipsawed if one attempted to use stock price as the basis for capital allocation. One might argue that technical analysis is an attempt to extract the core resource-allocation information from prices and leave the noise behind. Does thinking about technical analysis from this perspective help clarify what you and other practitioners are attempting to do?

[yukisnoww]

i think candlesticks are clearer than barcharts

[andrewweis]

My definition of a good-looking chart is SQ in 2016-2017.

[Yahniboy]

Bull flag forming which means higher prices so we are going past 4300 on our way to 4400.