I have used monthly charts to determine support and resistance levels.
Moreover, this timeframe is often the best indicator for either the end of a countermove or the start of a bigger megatrend.
The 23-month moving average (blue) and the 80-month moving average (green) are my go-to’s.
One is a shorter 2-year business cycle while the other is about a 6–7-year business cycle.
Here are a bunch of monthly charts that have my attention.
Often, a picture says 1000 words.
Alibaba (BABA)-the end of the correction or the start of a much bigger move? BABA has traded below the 23-month moving average since 2021.
Natural Gas-sure get bullish-but the road back to the monthly MAs is long and perilous for now.
Semiconductors-Sure we will see corrections. But the trend is quite clear and will not give us any pause until it breaks under 160.
The ETF for sugar. It gave us a great signal in 202. Now, with May sitting around the 23-month MA, is the move over?
How clear is this? Tesla is below the 23-month MA but above the 200-month MA.
What about Granny Retail XRT?
Above the 23-month so in expansion. But also having an inside month to May.
Best we can say from the chart- Granny looks constructive and we err to bullish. But there is more to prove.
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