[vc_row][vc_column][vc_column_text]We did our monthly free public Chart Chat at theartofchart.net at 4pm EST on Sunday looking at the options on equity indices as well as looking at the usual wide range of other markets. If you'd like to watch the recording that you can do that here or on our February Free Webinars page. At...
read more[vc_row][vc_column][vc_column_text]I was saying yesterday that if there is a rejection on the day after a break back up over a middle band, it is generally on the next candle, and we saw that yesterday. I also said that after a rejection there is generally a follow-through to the downside, and we've been seeing that on...
read more[vc_row][vc_column][vc_column_text]I've been promising a post talking about the January Barometer, which is a statistic from the Stock Trader's Almanac, something that I have been buying every year for many years as it has a lot of very useful information for traders and investors. This statistic looks at all Januarys that have closed down since 1950...
read more[vc_row][vc_column][vc_column_text]In my last post I was looking at strong daily lower band rides on SPX that have the daily lower band ride as intraday resistance, rather than as support as would be the case on a standard daily lower band ride, and I used a previous instance from September as an example. Interestingly the path...
read more[vc_row][vc_column][vc_column_text]The type of very strong daily lower band ride that I was describing on Friday turned out to be exactly what we saw, so I'm taking a moment to look at that this morning as these happen on a regular basis, two to four times a year or so, and tend to behave in a...
read more[vc_row][vc_column][vc_column_text]In my post on Friday 6th August last year I was looking at a possible backtest scenario on SPX that could be setting up and I reviewed how that is looking on my first post this year, as I was thinking, and am still thinking, that backtest may well be delivered over the next few...
read more[vc_row][vc_column][vc_column_text]In my last post I was talking about an SPX target in the 4500 area as long as SPX stayed under the daily middle band. Since then we saw a short lived break above the daily middle band but SPX failed to convert that back to support and has delivered a new retracement low today....
read more[vc_row][vc_column][vc_column_text]In my post on Friday 6th August I was looking at a possible backtest scenario on SPX that could be setting up and I'd like to review how that is looking on my first post this year, as I think that backtest may well be delivered over the next few weeks. That backtest would be...
read more[vc_row][vc_column][vc_column_text]SPX did the lower low I was expecting in my last post and found support at the rising support trendline from the March 2020 low, as I had suggested it might. The strong rally since then is now within striking distance of a retest of the all time high, and if seen, the normal range...
read more[vc_row][vc_column][vc_column_text]The mean reversion move that I was looking for in my posts over the last two weeks has now completed, with SPX breaking below the 45dma, now at 4562. That is the main target for the move hit, though that doesn't mean that the low is necessarily in, or close. There are some signs that...
read more