ES – Page 7 – The Art Of Chart

Tag: ES

Updated SPX Roadmap

I was saying in our free monthly Chart Chat on Sunday that the obvious next downside target on SPX was main channel support, and a test of that trendline that would mean that the channel had likely evolved into a rising wedge, which is something that happens regularly. If you'd like to see the recording...

Clean Clean

In my last post I was talking about the touch of the rising wedge support trendline that I'd been looking for, and the bull flag that was forming on SPX, that should break up today if not seen on Friday. SPX gapped up through flag resistance at the open today, and the minimum flag target...

FOMC Day

So far the scenario I was laying out on Friday has been playing out perfectly with the two red days at the start of this week, and SPX backtesting obvious trend support at the 50 hour MA twice. SPX didn't quite retest Monday's low yesterday, so the double bottom setup here isn't perfect but SPX...

The Wicked Witch Of the West

Looking at the average rises and falls on SPX from the start since 1997, the most bearish straight sequence of days of the year are the six days from 19th September through 25th September. Within those six days, usually including the September quadruple witching, the lowest percentage of positive closes is 23rd September at 26.67%...

Looking For A Retracement Low

Since I was writing on Friday the bull flag megaphone has broken up, a rising wedge formed on ES into yesterday's high, and then that wedge broke down with the obvious target at a retest of the retracement low. So far however this has delivered higher lows on SPX and ES, and ES is again...

Forming The Bull Flag

Apologies for the lack of updates this week. I've been reorganising my office which has been time-consuming though very satisfying. The video below is the full premarket video that I do every morning at for subscribers and there are quite a few charts at very interesting stages, most definitely including SPX/ES here. When I was...

One Month Closes And Another One Opens

SPX has made a possible short term high a couple of days ago, but needs to show us more on Tuesday than a retracement to test obvious support at the 50 hour MA, currently in the 2890 area. If that can be broken, and the open gap below it filled, then there is a decent...

Looking For A Short Term High

I'm posting my full premarket video from this morning, as this is a very interesting area on most of the instruments covered, with significant reversals in progress on many of them. Full Premarket Video from theartofchart.net - Update on ES, NQ, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD,...

Be Here Now

That was an unsatisfyingly fast low last week with none of the usual bottoming signals, but it was a higher low against the early August low, and the break under the daily middle band on Wednesday was firmly rejected on Thursday and confirmed on Friday, with a decent quality bull flag channel on ES breaking...

Targets and Support Levels

I was saying on my twitter yesterday that if ES could break and convert to support weekly pivot at 2842 then ES/SPX could head up directly, but in the absence of that a test of 2800 area support was likely, and well, here we are. So what now? Well there is decent established support in this area...