Indexes – Page 34 – The Art Of Chart

Category: Indexes

Another One Bites The Dust

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...

On To The Retest

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...

A Significant Technical Break

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...

Seven Percent And Counting

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...

Well That Delivered Faster Than Expected

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...

Likely Daily Middle Band Test Next

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...

Island Top on SPX

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...

Non-Verbal Communication

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...

… And To Finish Monsieur, A Wafer Thin Triangle

I said on my Twitter this morning near the open that both ES and NQ had formed bullish triangles that should at minimum deliver full retests of the all-time highs on both in the near future. ES did a new all-time high this morning and NQ has now scraped a new ATH by a tick this afternoon....

Watching the SPX Rising Wedge

I posted my premarket video today as I haven't done that in a while, and in part that's because I'm not well and trying to protect my voice today, so it makes sense not to do an intraday video today. The analysis of equity indices is at the start of the video and I've left...