Friday Update – The Usual Suspects

14 Comments / Video Updates / By

Below is the Friday Update and it covers SPX, RUT, ES, Oil, USD, and Gold. Am on holiday this week and next week so only planning on doing Chart Chat Sunday and a mid week update Wednesday. Sorry the post is late today, have been waiting to see support before releasing. Longer term implications of breaking 2036 will be discussed in Sunday’s Chart Chat.

We are in a 5 down structure in the S&P’s with support in the 2000 area – today is a trend day with only 10% up volume so careful today expecting a turn. Video outlines options. Expecting a bounce this area then lower. DX as expected turned lower and heading to 94.50, GC and CL as expected, so far so good, both near a turn.

Signup for Sunday Chart Chat here: https://attendee.gotowebinar.com/register/5202889391272222210

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.

Have a GREAT weekend!!! 🙂

Written by:

Stan Nabozny

Stan is a 20 year retail trading veteran, CTA (Commodity Trading Advisor) 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.

21st Aug 2015

14 thoughts on “Friday Update – The Usual Suspects”

  2. Scott

    Thanks so much for posting your excellent technical analysis which I have found to be extremely valuable. Even though the S&P recently turned in a direction you weren’t expecting, I was prepared because on your Sunday, Aug 16 Chart Chat you pointed out that the alternative scenario would be a straight drop down to the 2072 area which is exactly what happened. The only thing I would suggest different is that you spend more time laying out alternative scenarios and include them with your updates. You did not do that with the Wednesday (Aug 19) update which would have made your analysis much more valuable. Overall I’m impressed with your work, have recommended it to others, and am very interested in subscribing to your new service.

    Reply
  3. curtacoma

    Thanks for taking the time to do this while on vacation – figures we get the big move when you’re off and trying to relax!

    Reply
  6. Paul Samra

    Thanks for your video, very clear, this time I can read it on my mini iPad. Not sure what level of a bounce we could see on spx. Could u please explain.

    Sent from my iPhone

    >

    Reply
    1. stannabozny

      think where support was last seen. So one target is 2042s. Trend day today so don’t expect much until next week after a decent bounce lower prices expected. More details on sunday

      Reply
  7. Frank

    Thanks for your video Stan. I find it very useful. When you do your update Sunday, please try to an estimate of time you might see for the SPX bounce to 38 or 42 or wherever you think it might bounce. Also, last Sunday you showed a cycle chart which indicated the risk to the downside was limited to a 1-2 days and then showing a cycle predicting higher prices. Since that senario didn’t play out, can you explain why not? Again, thanks for your input Stan!

    Reply

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