Below is the Monday Update as what we discussed is unfolding nicely. The video is short but it covers SPX, RUT, ES, Oil, USD, Silver and Gold. Key level to watch on SPX is the monthly pivot and we are expecting a marginal new high.
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.
Good Luck the week 🙂
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.
11th Aug 2015
Chart below (which is pointing to an interim top) is very much corresponding with Stan’ s analysis..
http://stockcharts.com/h-sc/ui?s=%24CPC
Following Stan’ s analysis and taking into consideration this chart, it looks more safe to me to see ES hit around 2,108.75 to 2,110 and then go SHORT targeting around 2,040ish..
Chart below (which is pointing to an interim top) is very much corresponding with Stan’ s analysis..
http://stockcharts.com/h-sc/ui?s=%24CPC
Following Stan’ s analysis and taking into consideration CPC chart it looks more safe me to me to see ES hit around 2,108.75 to 2,110 and then go SHORT targeting 2,040ish..
If it wouldn’t be to much trouble I would appreciate it if when you talk about levels you would say the number verbally . I often look at these post on my smart phone and can’t see the numbers on the chart. Thanks again for helping out investors like me.
Larry
Great update , thanks for taking the time! I see the 5 wave move & now we broke the M Pivot & the 2082.66 area fibo and are dancing above and below it now at the open: Wave C of W4 touched the top of W1
QUESTION is the 5wave structure still good , IE a coming Wave 5 to new highs or that direction??
Another QUESTION ! Wave structure of this move is different than the E Minis, Which has more power? TIA!
Attempting a SPX gap fill from yesterday but that means E MINI penetrates wave one ….
#ChinaSurprise It’s always the things that you don’t expect. Looks like SPX support broke and we may go to ~2045 sooner than later. By the end of this week? Still a screaming buy (yellow box) Stan? Opex coming and I think it will be a buy.
Gaps on cash indexes filled (NYA), sorta filled (SPX) and over filled (COMPQ) For a moment it looked like a back test of the 2082.66 fibo on the E MINE in the works……..?
Stan,
Good video this am in outlining all the trading possibilities for the day. About 2 minutes before the close. SPX broke the monthly pivot and is currently at 84. I assume you’re now looking at SPX going to 39-46. Thanks a lot for a thorough and clear explanation.
FYI – Monthly pivot on SPX is 2,093.56 so not broken up yet..
V much agree with Larry. If u seeMV video he always mentors levels. If it’s not too much to ask !
So backtest of monthly and lower as outlined – should see SPX 2043 – and USD should se a turn higher today – more on the video update this evening
Cheers for the update Stan 🙂
Many thanks for update.