[vc_row][vc_column][vc_column_text]After my post on Friday, SPX spiked up into the trendline I had posted on the SPX hourly chart, and that was the very nice rising wedge resistance trendline from the March 2020 low. That high was retested this morning, the level was respected and weak hourly RSI 14 and RSI 5 sell signals have...
read more[vc_row][vc_column][vc_column_text]I've dropped out of sight for a while, apart from my usual work at theartofchart.net, and my apologies for that. My divorce has been playing out in the background and I've been finding that rather depressing. Hopefully in a few months it will be finished and I will be free to move on to a...
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[vc_row][vc_column][vc_column_text]My last post was a couple of weeks ago now and in that time the retracement that I was expecting has been playing out, though the main target, rising support from the March low, now in the 3745 area, has not yet been tested, and may well not be before we see a high retest....
read more[vc_row][vc_column][vc_column_text]Firstly my apology for the lack of an update last week. As I've mentioned, I'm negotiating my way through a difficult divorce at the moment, and some weeks are harder than others. On the harder weeks I struggle to get any posts done. As the weeks and months pass everything should be resolved and I...
read more[vc_row][vc_column][vc_column_text]I was saying in my last post on Friday afternoon that the low made that day looked nice, with touches of the daily middle band and shorter term (from Nov low) rising wedge support on SPX. I was leaning towards seeing a retest of the all time high, which we have seen and more. Now...
read more[vc_row][vc_column][vc_column_text]The research I am doing on the 45dma over the last 25 years is a bigger job than I expected so I should have the post out on that next week. In the short term though, equity indices have been looking pretty interesting and and are at a significant short term inflection point here. The...
read more[vc_row][vc_column][vc_column_text]My daughter went back to university on Saturday and that was the end of the holidays for me. They were the most relaxing for me in years which was nice, but all good things come to an end. The UK is back on full lockdown until at least March due to the new COVID variant...
read more[vc_row][vc_column][vc_column_text]Tomorrow is the last trading day of 2020 and with new Year's Day on Friday we get another long weekend into the start of 2021 next week. This has been a really interesting year, though a very hard one for many, and will leave a legacy for economies and markets that will likely ripple through...
read moreIt has been a grim year and I, and many others, will be very glad to leave it behind, but even with maximum lockdown spreading rapidly across the UK with the new virus mutation, I have a great holiday weekend planned with roaring fires, presents, great food, homemade pancakes, (probably too much) chocolate, board games...
read moreOccasionally there is a year so awful that nothing seems to go right. The title phrase was first used in a Church of England publication in 1870, the year that papal infallibility was declared, Prussia invaded France, Italy annexed Rome, Lenin was born and the US weather service made their first official forecast. 2020 is...
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