Indexes – Page 23 – The Art Of Chart

Category: Indexes

Coming Into The High Window

Apologies for the long delay between posts. My wife has been having a serious health issue including some surgery so I have been very distracted. In my last post I was looking for another high retest, and we have seen that, with a push this week into the psychologically important 3000 area after the close...

Sometimes It’s Just a Flag

SPX made a high early this week, broke down from a decent quality falling wedge and the obvious retracement targets were either the 38.2% or 50% retracements in either the 2840 or 2820 areas before another likely leg up. Sometimes however any initially promising looking topping pattern evolves into a flag as the index trades...

The Next Inflection Points

In my post 'Important Support Breaks' on 2nd May, as SPX was starting to break down after the new all time high, I was talking about the ideal retracement target at the possible H&S neckline in the 2722 March low area. SPX bottomed out yesterday at 2728 and in practical terms that target area I gave...

Choices, Choices

One way of looking at markets is as a succession of inflection points or probability forks, at which there are generally a higher and lower probability option which, once taken, take the markets to the next in that series, either eliminating or significantly changing the paths not taken at that inflection point. We've been looking...

Three Day Rule Target At 2801 Retest

SPX broke back over the 5dma last Thursday and that put SPX back on the Three Day Rule, which is that after a decline of more than 2% followed by a break back over the 5dma, then SPX must hold above the 5dma the next two daily closes. If SPX fails to manage that then...

X Marks The (Ideal) Spot

Before the open this morning I was cautiously predicting that ES would rally today to a higher high than yesterday, ideally failing today at a high in the 2865-9 area. As it happened the low of the day was happening at the time on ES, slightly before the RTH open, and ES is now testing...

The Battles Of The Band

On Thursday before I wrote my post SPX went a few handles below the daily 3sd lower band, and as I'd generally expect we saw a strong rally from there. On Friday, somewhat to my surprise SPX again went a few handles below the daily 3sd lower band, and we then saw an even stronger...

Taking Stock Here

Last week I was looking at support that needed to be broken at the SPX daily middle band to open further downside and obviously SPX did that and could be at or close to the wave A low here, looking then for a B wave rally, and then a C wave down into the next...

Important Support Breaks

Since my post a week ago SPX has retested the all time high as expected and made a marginal higher high, the rising wedge from the December low has broken down, the second daily RSI 5 sell signal since the December low has fixed, the first having played out into the March low, SPX has...

The SPX All Time High Retest

At the end of every year Stan and I do a public webinar where we look at the more likely options for price moves on indices, bonds, forex, metals, energies and other commodities over the coming year. At the one we recorded on 30th December 2018 we were asked a question as to what could...