Category: Indexes

Looking For This Retracement Low

Everything that I was looking at on Wednesday has delivered except that SPX has not quite yet reached the H&S target at 2720. The daily RSI 5/NYMO sell signal fixed and reached target, the hourly sell signals on SPX and RUT both made target, and while SPX might need another marginal lower low to reached...

read more

Category: Indexes

Watching SPX Monthly Pivot

I was looking at the topping setup here before the open, among other things. Full premarket video below including a very nice reversal setup on GC. Full Premarket Video from theartofchart.net - Updates on ES, NQ, RTY, DAX, ESTX50, SPX, NDX, RUT, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD...

read more

Category: Indexes

Retest Interruptus

I was making the argument before the open this morning that equity indices were so close to obvious resistance on NQ, RTY, DAX and ESTX50, that ES might well deliver a lower high this morning and fail hard there. So far that has delivered though this morning's high might need a retest. Premarket Video from theartofchart.net -...

read more

Category: Indexes

Topping Out …….. Probably

SPX and NDX reached the resistance areas that I was looking at and may be topping out there, the rising wedge support trendlines on SPX, NDX and RUT have all now broken down. So what now? Well on SPX I have been watching three levels which are all currently in the same area. These are...

read more

Category: Indexes

SPX Rising Channel Support Broken

I was looking this morning at the decent looking possible rising wedge resistance trendline established on SPX at the highs this week and watching with great interest as rising channel and now possibly wedge support was tested again this morning. The trendline held on the first test and then broke on the second, so there...

read more

Category: Indexes

Fine Charts and Great Coffee

If you read my post on Friday talking about the rising channel on SPX that could deliver an all time high retest within weeks, then you know what I see as the key support level on SPX and that is of course that rising channel support trendline, now in the 2750 area and rising at about 42...

read more

Category: Indexes

It Sounds Wild But …………….

At the end of December I posted the SPX monthly chart for subscribers at theartofchart.net talking about the significance of the monthly middle band in bear market moves. I posted the chart on a post here on 24th January when it had become clear that such a close back above was possible, and we saw...

read more

Category: Indexes

Reversing At SPX 200dma ….. So Far

My apologies for the lack of an update last week, which was particularly busy. Today, I'm going to do a multi-time-frame review of where SPX is now, and the implications longer term of this seven-week uptrend having risen this far. Just to mention, we are doing our monthly free public Chart Chat on Sunday, and...

read more

Category: Indexes

Topping Out, Probably

SPX went up through both of the annual pivot and 50dma resistance levels and has come close to a test of declining resistance from the all time highs, now in the 2690 area. I was talking earlier this month about the vital importance of monthly closing resistance at the monthly middle band, now at 2664....

read more

Category: Indexes

Bear Flags and SPX Annual Pivot

In the video below before the open this morning I looked first at the clear bear flag rally patterns developed on ES, NQ, RTY, DAX and ESTX50, then SPX, NDX and RUT. That's a lot of bear flags and while these don't always break down, they usually do and the odds favor that again here....

read more