Watching the SPX Rising Wedge

I posted my premarket video today as I haven’t done that in a while, and in part that’s because I’m not well and trying to protect my voice today, so it makes sense not to do an intraday video today.

The analysis of equity indices is at the start of the video and I’ve left in the other sixteen instruments I cover every morning in these premarket videos at If you’re interested, there are interesting things happening on DX & USD pairs, CL, GC, ZB, and HG particularly.

Premarket Video – Update on ES, NQ, TF, and CL, NG, HG, GC, ZB, DX, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, KC, SB, CC, and ZW:

I haven’t been showing enough SPX charts recently, so here is what the rising wedge looks like on the SPX chart. Forming nicely, and wedge support is now in the 2831 area. Wedge resistance is now in the 2862 area and would be the obvious next target if wedge doesn’t break first. 60min RSI 14 sell signal fixed and I’m leaning towards at least a retest of the ATH even if SPX is topping out short term. SPX 60min chart:

Written by:

Richard Chappell

Jack is a 20 year retail trading veteran and co-founder of The Art Of Chart. He started his blog at in 2010 and since has published tens of thousands of charts looking at hundreds of trading instruments across most tradeable markets, doing original work mainly in the areas of trendlines, patterns and divergences. At The Art Of Chart Jack has taught trading skills, technical analysis, and the discipline and trader psychology that allow those to be used effectively in trading.

25th Jan 2018

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