Well, SPX has finally retraced over the last couple of days, and the bull/bear line that I’m talking about on the video is rising support from the April low. That was tested as expected not long after I recorded the video and that’s holding so far. On a break below, this rally has likely ended […]
read more »I was saying last week that for a fill of the open gap from 2711.93, I’d be disregarding the Three Day Rule target (a retest of 2553.80). The Three Day Rule target technically hasn’t failed yet, but the first downside scenario is likely failing, and we are now left with the remaining two scenarios. The […]
read more »Stan and I are doing our monthly free public webinar on the Big Five and Sectors after the close tonight and we’ll be looking at AMZN, AAPL, FB, NFLX, TSLA, IBB, IYR, XLE, XLF, XLK, and XRT. If you’d like to attend, you can register for that on our April Free Webinars page. We are also, […]
read more »NQ/NDX and RUT/TF have now both reached their respective IHS necklines and broken slightly over them, so the possible Janus bear flag setups on both are set up and ready to fail into the retests of the previous lows. ES/SPX is the only laggard, but of course, there was already a strong target at the […]
read more »In our Sunday Chart Chat, I was looking at an attractive scenario for this week where ES/SPX would make a higher high this week to complete a possible IHS forming, break up slightly from that, and then fail back into a minimum target at last week’s low at 2553.80, also the target on the Three […]
read more »It’s been a while since we last saw an example, but one of my strongest historical stats is the Three Day Rule. On this stat, there first needs to be a 2%+ decline, and then on a break back over the 5 day MA, currently at 2627, then on a clear daily closing break back […]
read more »I prepared this post a while before the close today, but for some reason, my media computer took two hours to encode the video. Everything still relevant now so here it is. In the interim the backtest into the 2619 area is in progress and assuming that support holds, I’m expecting a higher high to […]
read more »Today is the end of the first quarter and the first day of the second quarter on Monday traditionally leans 75% bullish. That’s worth bearing in mind here as any bullish move here may follow through on Monday. Full Intraday Video from theartofchart.net – Update on ES, NQ and TF (at the start) and then DX, CL, […]
read more »ES bounced at monthly pivot support yesterday and a likely bear flag is forming that on a break down should at minimum deliver a retest of yesterday’s low, and likely continuation lower after that. There is a small section looking at Facebook at the end of the video today. Intraday Video from theartofchart.net – Update on ES, […]
read more »ES never managed to break below weekly pivot support last week, but the new weekly pivot moved over price and ES is now testing the monthly pivot at 2698, which is holding so far. SPX and NDX have broken their rally rising wedges and retraced 38.2% of them, and if we are to see a […]
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