In 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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09th Feb 2018 ES made Stan's target area 2700-40 for the rally and all three of ES, NQ, and TF have turned back down towards likely retests of the retracement lows so far. There is still a possible case for high retests on these to make double tops to deliver that move, but I was only assigning a...
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08th Feb 2018 Well, that was interesting yesterday, and that was a really impressive move on equity indices that finally ended the longest trading period in SPX history without a 5% retracement. The mindless bullish euphoria has ended for the moment, and overall, we should be back in a more two-way market environment for a while. In terms...
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06th Feb 2018 I was looking for a decline of more than 5% from the high on SPX to signal that the market was normalizing into a more two-way trading environment, and that has been hit today, and then some. On the video below, I was noting the large amount of positive divergence on various charts and liking...
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05th Feb 2018 The Weekly Call provides perspective on high-quality setups and trading strategies. Our current performance showing a more than 290% return since October 2016. The purpose of this blog is to demonstrate how to swing trade futures using our methodology to select high-quality setups and manage the trade with our risk management approach. This week, I...
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04th Feb 2018 Crypto-currencies are now mainstream trading instruments and so I am providing charts here on a weekly basis. I plan to cover just three cryptos: Bitcoin, Litecoin, and Ethereum. The point of this weekly post is to show the crowd psychology behind the price movement to support high-quality trades. BTC broke lower last week and hit the...
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04th Feb 2018 Stan and I are doing our free monthly Chart Chat on Sunday at theartofchart.net. We'll be covering the usual wide range of instruments and you can register for that on our February Free Webinars page. No futures charts or video this afternoon as I tripped over this morning while trying to find somewhere in an unfamiliar city using...
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02nd Feb 2018 ES/SPX just consolidating here at the moment, though if there is a break and conversion of the 50 hour MA now at 2841 that would open a test of the open breakaway gap down from 2853.53. In the absence of a breakdown, the obvious next target would be the daily middle band in the 2800...
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01st Feb 2018 Well obviously SPX didn't do the higher high that I would have preferred, and this morning's gap down broke down through rising wedge support and also gapped back through the open breakaway gap up from 2839.25. This currently leaves a decent quality island top on SPX and an open breakaway gap down from 2853.53 that...
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30th Jan 2018 I had an interesting question on my Twitter that I answered this morning, and it was in response to my tweet at the open on Friday saying that both ES and NQ had formed clear bullish triangles and that I was expecting ATH retests on both. The question was from later in the day when the ATH...
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29th Jan 2018 