Monday Night Update – Chart Chat follow up

Below is a quick update from Chart Chat as what we discussed is unfolding nicely. The video is short but it covers SPX, RUT, ES, Oil, USD, and Gold. So far, so good. Tomorrow is a key day and possibly a trend day. Watch the invalidation level for the USD.

Please make sure the HD button is on and maximize the screen for best viewing. The HD version should be done 5 minutes after this post goes up. Until then, this is the SD version. You may wish to wait for the HD version for best viewing.

Enjoy!! 🙂

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran and Co-Founder of The Art of Chart. His specialties include using futures and options to trade Energies, Precious Metals, Equities, Currencies, Bonds, Softs, Grains and other commodities. Stan believes that Risk Management and Trader Psychology are more important that technical analysis and spends his time teaching and coaching other traders on these topics. Stan uses various trading systems and technical analysis approaches that integrate time and price in his work. See his latest articles here and www.huffingtonpost.com.

04th Aug 2015

21 thoughts on “Monday Night Update – Chart Chat follow up”

  1. SPX touched the Bollinger Hourly Middle Band which is also very close (almost the same) to Stan’ s declining resistance on hourly SPX chart. Then back tested the monthly pivot and now trying to bounce..

  2. After the video is over, my pc is frozen and I can’t to anything.
    I have to reboot.
    Anybody else having this problem?

  3. SPX going nowhere, hardly any movement. Many traders on vacation, resulting in light volume. I know Stan ignores fundamentals, but I think those trading this week are waiting for the July Jobs report Friday, and an indication of the timing of the first rate hike in years. Should be a dull week until Friday if I’m right. Then, it depends on that Jobs report IMO.

    1. Also, if the Fri. Jobs report is stronger than expected, causing fears of a Sep. rate increase, I think we see SPX 2040’s sooner rather than later. (BTW, a rate increase is no reason for fear, or an end to this bull market. It does need a good correction though.)

  4. flat looking structure here on es/spx to ES 4.50-7.75 – resistance likely, next pullback if we find support 97.75ish and then higher a bullish signal – but break this level, expect this impulse to unwind completely

    will post longer term charts this evening

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