ES – Page 14 – The Art Of Chart

Tag: ES

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...

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...

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...

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...