Indexes – Page 35 – The Art Of Chart

Category: Indexes

The Pig That Flew

ES made a higher high this morning, slightly overthrowing wedge resistance, which could need to be slightly redrawn, and then rejected into a test of wedge support, reversing back up there exactly. That has delivered the move I was looking for yesterday, but if we are really seeing something significant change, then there will need...

The Temporary Oxymoron

ES hit my preferred resistance trendline overnight and then again at the high this morning. There are now high quality rising wedges on ES, NQ, and TF and, strange as it seems to use these words in this sequence, this is the nicest short-term bear setup that I've seen in months. Looked at in detail...

Onwards and Upwards

I tend to look at any bear setups lately with a very skeptical eye, and the nice-looking nested double-top setups on ES and NQ that last week closed with didn't long survive the start of trading this morning. I posted on my Twitter before the open that there was a high-quality support trendline on ES...

Some Writing On A Wall Somewhere

Well, it's been a while, but something interesting finally happened on equities today with an AM high that died into a halfway decent decline. Rising support for SPX from the late December low was broken and we may well now be in the topping process for a larger retracement before subsequent higher highs. This one...

Happy vs Mambo #5

I hope everyone is looking forward to the holiday weekend. I know I am, and I am planning to celebrate on Monday by moving a particularly large wardrobe from my daughter's bedroom and replacing it with a rather nice antique desk. Life can get pretty wild at Jack's house. :-) I was talking about rising...

Resistance Trendlines

The little retracement yesterday made the targets on the 60min sell signals on ES and NQ and denied SPX a record on the number of consecutive all-time highs at the start of a year. However, it is likely that in a week or so SPX will complete the longest ever period without a 5% retracement....

A Polite Cough

I've been ill or recovering much of the new year so far, as has Stan, and much of the western world as far as I can tell, and I've managed to keep up with my main work at theartofchart.net but this is an unusually late first post for the year. That's not the polite cough that I'm...

Three Wise Patterns Bearing Gifts Of Volatility

I hope everyone had a great holiday. So far this week, the tape has been pretty tedious. However, I bring glad tidings, as the pattern setup here says that is likely to be changing in the near future. I've included my full premarket video today just to show that even with interesting things likely to...

Return To Santa, Address Unknown

I'm definitely in a holiday mood this week. That's not really due to declining workload; by the time I finish today, I'll have published between 55 and 60 charts and three videos. Nonetheless, the holidays are in the air and I'm feeling festive. Santa has been AWOL for a couple of days on the indices...

Probably A Dip To Buy

I was seeing a possibility of a retracement last night and was talking about that this morning in my premarket vid. The 60min sell signals on ES and NQ have made target but there is a strong case on NQ for a hit of a wedge support trendline currently in the 6460 area and that...