ES – Page 6 – The Art Of Chart

Tag: ES

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...

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 -...

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....

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....

So Far, So Good

Stan and I did an educational webinar at theartofchart.net yesterday after the close on trading in bear markets, and we were talking then about ES/SPX being at an inflection point where on a conversion of the ES weekly pivot at 2441 to resistance ES would likely head down directly into the low retest, but if decent support...

Goodbye To 2018

Stan and I did our end of year webinar yesterday looking at the outlook next year for equity markets including SPX, NDX, RUT, DAX & NIKK, also AMZN & AAPL, bonds, oil, gold, silver, gdx, us dollar, EURUSD, coffee, sugar, wheat, corn, bitcoin and a couple of other instruments we were asked about that I...

Big Support Breaks

After repeated tests where it held, the thrust down after the Fed hike on Wednesday broke down through the big support level and potential H&S neckline in the 2530-40 SPX area and continued down. Wednesday night I was looking at the next big level on ES 2465-80 area and that too has broken yesterday. I'd...

Belt And Braces

SPX closed ten handles or so over the 5dma yesterday, so SPX is back on the Three Day Rule. If SPX should close back below the 5dma today or Monday then we should expect a retest of the last low at 2583.23 in the near future. At the moment the 5dma is at 2638 and...

Santa’s Inflection Point

On my last post I was talking about the expected significant backtest on SPX, and we have now seen that retracement which has reached the 61.8% fib retrace area. At this point I'm expecting the main rally into Xmas to start in the next couple of days and that may well be starting here. However...

Need To Know Your ABC

I was saying after the SPX support trendline touch a few days ago that having a strong three-touch support trendline cuts both ways, in that it is strong support while it holds, but can get ugly fast when it breaks. The strength of this push down after the support trendline broke on Wednesday morning was...