Tag: INDU

Flags – As Above So Below

[vc_row][vc_column][vc_column_text]I'm in the throes of moving house at the moment and am struggling to get posts out so there may be just one a week or so until I've finished in three or four weeks. It looks like I may actually need to take a whole week off at the end of the month which...

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Tag: INDU

One More High Needed ……….. Probably

[vc_row][vc_column][vc_column_text]Last Friday there was a clear break back below the 5dma, and that was a fix under the Three Day Rule. On this rule SPX should retest the last low at 3491.58 before any retest of the prior high at 3806.91. I haven't counted but there have been nine previous fixes in 2022 and I'd...

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Tag: INDU

No Such Thing As A Sure Thing

[vc_row][vc_column][vc_column_text]On Friday morning I was writing that SPX went back onto my Three Day Rule on the break back over the 5dma at the close on Thursday night. Under that rule, if either of the next two closes delivers a clear break back below the 5dma, then the prior low, in this case 3491.58, will...

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Tag: INDU

Still Testing The SPX 200 Week MA

[vc_row][vc_column][vc_column_text]Apologies for this being the only post this week. I'm moving house in a few weeks and I've been really busy. In my last post I was looking at the possible hard fail setup on SPX, NDX, IWM and Dow if the inverted H&S patterns that had broken up failed on moves back below the...

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Tag: INDU

The Ghosts Of Christmas Past

[vc_row][vc_column][vc_column_text]There's been quite a bit of speculation about a possible bear market low having just been made at the last low, and that is technically possible, though I think rather unlikely. More likely is the possibility that SPX is returning to retest the all time highs to make a second high on a huge double...

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Tag: INDU

Approaching The Low Retest

[vc_row][vc_column][vc_column_text]I was saying in my premarket video on Monday morning that ideally what we would see this week is a rally on Mon/Tues, and then another leg down on Wednesday through Monday next week in line with the very bearish historical stats for these four days. So far that has delivered well, with FOMC on...

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Tag: INDU

The Downside Is Strong In This One

[vc_row][vc_column][vc_column_text]I was saying in my post on Monday that a fail at the test of the daily middle band generally happens in one of two ways. The first way is the usual test and fail, and the second is a break above that is rejected the next day. Obviously SPX took the second option and...

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Tag: INDU

Halfway Between The Gutter And The Stars

[vc_row][vc_column][vc_column_text]SPX rallied further on Friday to test the monthly pivot at 4078, and has been trading above it overnight. A string of decent quality double bottoms have broken up on the equity indices and if we are to see further upside then the next big resistance on SPX is at the daily middle band which...

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Tag: INDU

Testing 3900

[vc_row][vc_column][vc_column_text]The H&S patterns from the rally highs that I was looking at a week ago all made their target areas yesterday and SPX is now testing important support at 3900. This area was significant on the way up in early 2021, and was then key support in May, resistance in June, and was broken as...

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Tag: INDU

Broken Flags

[vc_row][vc_column][vc_column_text]I was looking at the equity indices on Sunday, and there were decent looking short term bull flags across the equity indices. These were a good indicator for a rally high retest next but they only break up about 70% of the time. The rest of the time they break down or evolve into larger...

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