Obviously, the rejection candle opportunity for bears yesterday was a one day only thing, and that day has passed. What we are seeing today is a decent little retracement that has a chance to grow into a larger backtest of the daily middle band. I'm talking about that in the video below: Intraday Video from theartofchart.net -...
read moreSPX and RUT both broke with confidence over their daily middle bands on Friday and such a break is a two-day process. Bears get a potential "Get Out Of Jail Free" card the next day if they can deliver a rejection candle that closes back below the middle band, and bulls need to deliver a...
read moreSince 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...
read moreI try to post a full video once a week, so I'm posting one today. If you're just interested in the equity indices, I cover those at the start of the video. Stan and I are doing two free webinars tonight: the first is on trade execution 30 minutes after the RTH close, and the...
read moreI remember seeing the very talented satirist Tom Lehrer on his last world tour in the 1980s, the "Poisoning Pigeons In The Park" tour. Today's title is a small homage to one of my favorites in his repertoire, as well as a note that as and when equities are ready for the next leg down,...
read moreI have a question for my beloved readers today and I'm hoping one of you has a good answer. I've teamed up with an options expert friend to run a directional options portfolio based main on futures options for the last three months, and we've been recording the (very impressive so far) trades and results...
read moreA couple of announcements today: Firstly, tonight's webinar at theartofchart.net has been delayed a week due to an unavoidable conflict, and will now be held on the same night as our Big Five & Sectors webinar on Thursday next week. You can register for either or both on our February Free Webinars page. The second announcement is that...
read moreThere has been a remarkable similarity on the patterns from last Friday's low on all of ES, NQ, and TF, with rising wedges forming then breaking down. I was expecting consolidation to establish less steep support trendlines and in a remarkable convergence, all three of those initial rising wedges evolved into the perfect rising channel...
read moreNice rally from Friday's low. Not expecting that to be the retracement low but there are fixed hourly RSI 14 buy signals that are not close to target and my lean would be that there is at least some more upside coming. Intraday Video from theartofchart.net - Update on ES, NQ, and TF: https://www.youtube.com/watch?v=HOwhzdz-KdE On the daily charts,...
read moreIn Chart Chat on Wednesday morning, Stan and I were looking at the next support levels on SPX and my pick was triple support at rising support from the Feb 2016 low, and the 200dma and annual pivot levels at 2538/9, all a match with a retest of the ES globex low on Monday night. We were...
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