Price Is King

Since I started posting on YouTube a few weeks ago, we have doubled subscribers on our channel there to slightly under 500. I have calculated that if we can continue doubling subscribers every two months for the next three years, then we can overtake the current biggest YouTube star, currently at about 80 million subscribers I think. I’m certain PewDiePie is watching our relentless march towards YouTube greatness with great concern. 🙂

On the video below, I’m looking at the option that SPX breaks over daily middle band at the close today, something that is now looking likely. That would make a retest of the recent high at 2754.42 likely in my view, and unless we were to then see a rejection candle below the daily middle band on Monday, then we might well see continuation higher. That would suck but price makes these decisions, not analysts. Intraday Video from – Update on ES, NQ, and TF:

The daily middle band has been tested exhaustively over recent days and I was saying in one of the free webinars we did last night (recordings posted on our February Free Webinars page) that I would prefer not to see another test today, as if price keeps knocking on a door long enough, it tends to open. The level, now at 2725/6 has been tested again today, and currently, it appears to be breaking, though there can be no clear break until the RTH session has closed. SPX daily chart:

Everyone have a great weekend! 🙂

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.

23rd Feb 2018

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