Breaking Down the Triple Play Chart

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Breaking Down the Triple Play Chart

I have been posting the Triple play charts daily for a while now on many different time frames.  I think it is good to look at the major indexes side by side to see how things are shaping up and help get an idea of where to focus.  However, this weekend I realized there is a lot going on in this chart and it would probably help if I did a breakdown to help make sure followers don’t miss anything.

2-8-2013 TP Daily

The Triple play charts hava the three indexes displayed with my RSI template.  This template is really the basis for the chart and was built off my studies with Andrew Cardwell.  I discussed this journey in detail during the RSI Series, so we won’t go into that detail again.  Instead, I want to go through and label the $SPY chart for quick reference.

2-10-2013 SPY anTop Band:

RSI Bull Bear Ranges. Bull = first cross above 60 since last cross below 40 and Bear = first cross below 40 since last cross above 60

Bottom Right Corner:

RSI Bull Bear Ranges. Bull = green smiley face Bear = red frowny face

Price Window:

Price Close Support = Next days price does not cross down through that days close at any point.

Price Close Resistance =  Next days price does not cross above that days close at any point.

CFG The Number is a proprietary moving average formula developed by Cardwell Financial Group.

CFG Hi and Lo Lines are proprietary bands used on conjunction with The Number

9sma on close

45ema on close

*45ema has essentially been replaced by The Number, but old habits die hard.

RSI Window:

RSI 14

Traditional horizontal lines at 30, 50 and 70

RSI bull range parameters marked with green horizontal lines at 40 and 80

RSI bear ranges parameters marked with red horizontal lines at 20 and 60

9sma of RSI

45ema of RSI

CFG Window:

CFG is a proprietary indicator developed by Andrew Cardwell as a compliment indicator to the RSI. I think of it as an oscillator for gauging overbought and oversold readings while RSI moves through its bull or bear ranges.

4sma of CFG

20ema of CFG

45ema of CFG

Again more explanation of how I use a this data can be found above in the RSI series, but this should help add some value to the Triple Play charts I post each day. Oh yeah, and don’t forget to check out the power that 9sma of RSI can have on a chart.

Good Luck, it is there for the making!

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(All market data above are derived from Stockcharts.com, Esignal, and Reutersdatalink)
The information set forth herein was obtained from sources which we believe to be reliable, but we do not guarantee its accuracy.  Neither the information, nor any opinion expressed constitutes a solicitation by us of the purchase or sale of any securities or commodities. I or my affiliates may hold positions or other interests in securities mentioned in the blog.  Full Disclaimer
There is no guarantee that the views expressed in this communication will become reality,  Investing in the stock market involves risk and potential loss of principal, Investment strategies should be thoroughly researched and understood before implementing and none of this should be construed as a recommendation

About Author

Tommy

is a Chartered Market Technician (CMT) and Certified Financial Planner (CFPr) in Greensboro Georgia (Outside Atlanta). Founding partner of Barber Lackey Financial Group, LLC, a Registered Investment Advisor. However, this blog is not affiliated with BLFG and does not make recommendations to buy sell or hold any securities.

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