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.
21 thoughts on “Monday Night Update – Chart Chat follow up”
Thanks for the update Stan. Will be watching with interest today.
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..
Looks like churning …. not very interesting ……yet
After the video is over, my pc is frozen and I can’t to anything.
I have to reboot.
Anybody else having this problem?
Not me, could be a memory problem
I have a “bare bones” pc so it may be a memory problem.
Thanks for the reply.
Monthly pivot on SPX broken down (2,093.56).. Maybe some good news for bears..
The move has started
Support on Stan’ s hourly SPX chart is around 2,071 – 2,071.25 (rising support line)..
now reversing ……..groan
Game is not over yet.. 🙂
STOPS, Does anyone have problems with stops being passed over and not hit?
Of interest: How stop limit orders can be a problem http://bclund.com/2011/09/28/3-ways-the-exchanges-screw-with-your-stop-orders/
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.
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.)
Good to know, thanks Mike….I fail to follow these things.
Events like that do effect “timing”
Stan; Can you post the updated versions of Weekly and Monthly charts of SPX? Would like to see the updated charts for long term if possible.
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
Hi Stan : 2104.50 -7.75? TIA
Hourly Bollinger Upper Band riding has started I guess..
SPX testing the declining support line on hourly chart. RSI on the same time frame chart doing the same.. Let’ s see if these support lines will hold..