I tweeted an excerpt from my premarket video on Thursday last week where I was talking about the ideal path for ES over the coming days and the plan was to see a high respecting a trendline then in the mid-3060s, seen on Thursday afternoon, then a retracement into the 3000 area, seen on Friday, and then […]
read more »SPX gapped up over 3000 this week and has been sustaining trade above it, with retracements. My working assumption is that SPX is on a path to reach my 3100 target area. So how is that looking on the SPX hourly chart? Well I drew in two high quality possible rising wedge resistance trendlines on […]
read more »In my last couple of posts I was writing about the rally scenarios on SPX and was saying that the recent lower high on SPX increased the chance that the retracement from that high was to finish forming a bull flag that would then break up into a minimum target at a retest of the […]
read more »I was talking on Monday about the decent looking setup for a lower high on SPX, and so it proved to be. What next? Well the rising wedge from the early May low has broken down and almost entirely retraced. There is some possible support here, but the trend down day that ES/SPX has delivered […]
read more »For me, although there are always of course bigger picture scenarios developing as well, the best way to view the market in the near term is to see it as a series of inflection points which generally have a more likely looking option for the next move, but can always break either way. My next […]
read more »It’s been an exciting week, with wild moves, bold pronouncements about markets, terrible economic news, expectations about interventions by governments, the number of US confirmed cases of COVID-19 climbing over a million, deaths from COVID-19 in the US climbing over 60,000 and over 235,000 worldwide. Exhausting and TGIF. So what happened on the SPX over […]
read more »I have a gap in my work schedule this morning as we wait for the Fed this afternoon, so I thought I’d do a quick update on the inflection point that SPX has reached today, and talk about why the still very pervasive faith in the power of the Fed to keep asset prices up […]
read more »I have a Shakespeare theme with the title today, which is a quote from Richard III. I am a lifelong Shakespeare lover and have been using some of my quarantine time watching film versions of some of his plays, of which I have about thirty or so in total, many of which were beautifully done. […]
read more »My last few posts have been a coronavirus COVID-19 series, so I’m putting in the links here so as to refer back to them easily for now. These are the twelve posts so far. I’m planning to finish this series with a post on the likely economic impact of COVID-19 over the coming year, and […]
read more »My last few posts have been a coronavirus COVID-19 series, so I’m putting in the links here so as to refer back to them easily for now. These are the eleven posts so far. I’m planning to finish this series with a post on the likely economic impact of COVID-19 over the coming year, and […]
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