Tag: Jack’s CAP

Watching For 4400-10

[vc_row][vc_column][vc_column_text]I've been distracted this week by a divorce hearing yesterday morning, but that's out of the way now and I'm doing two posts today. This first one is talking about short term upside targets across SPX, NDX, IWM and INDU and the second one later today will be looking at the bigger picture case for...

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Tag: Jack’s CAP

The Next Upside Targets

[vc_row][vc_column][vc_column_text]Obviously SPX broke up at the last inflection point and may well be on the way to the resistance trendline I mentioned in my last post, currently in the 4400 area. I'm still leaning towards seeing a decent backtest of the 4000 area over the summer sometime and ideally that backtest would reach the 3800...

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Tag: Jack’s CAP

The Next Inflection Point

[vc_row][vc_column][vc_column_text]I remember a reader describing me a few years ago as an 'if, then' analyst, and that was a pretty decent description, as nothing is ever certain and markets move from one inflection point to the next, where there is another 'if, then' decision to be made. I was talking in my last post about...

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Tag: Jack’s CAP

A Lot Of H&S Patterns Forming

[vc_row][vc_column][vc_column_text]I was looking at something unusual in my premarket video at theartofchart.net this morning and that was a large number of H&S patterns both bearish and bullish. I don't generally post my work here outside the equity indices but I'll make an exception today as these are worth a look, and all really coming out...

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Tag: Jack’s CAP

SPX Topping Options

[vc_row][vc_column][vc_column_text]Friday was very weak, particularly for a big opex Friday, and SPX broke down through the daily middle band, currently 4215 area, the 50dma, currently 4183 area, and on ES even briefly broke down below the monthly pivot. We are seeing a rally this morning and I was giving the ideal rally high area on...

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Tag: Jack’s CAP

NDX Topping Setup Completes

[vc_row][vc_column][vc_column_text]I had a couple of overhead targets that I was looking for this week, and the chances of making the ambitious one on SPX in the 4350 area finally withered and died with the hawkish FOMC comments yesterday. The more important one was on NDX however, and that has completed as expected this week, with...

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Tag: Jack’s CAP

Onwards And Upwards

[vc_row][vc_column][vc_column_text]On my last post I was looking at the setup for a backtest of the daily middle band, and SPX delivered that and has then rallied back almost to the all time high retest, which I'm expecting to happen ideally today or tomorrow, as the historical stats for Wednesday and Thursday this week lean significantly...

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Tag: Jack’s CAP

A Strange Start To June

[vc_row][vc_column][vc_column_text]June is not a bullish month historically on SPX, but it does have some bullish leaning days. Today, the second trading day of the month, is historically the strongest day of the month, with 76.2% green closes on SPX. Yesterday runs equal with Tuesday 15th June for second most bullish day of the month with...

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Tag: Jack’s CAP

A Short But Winding Road

[vc_row][vc_column][vc_column_text]In my premarket video this morning at theartofchart.net this morning I was looking at the very attractive looking setup on the index futures for a sharp retracement, and since then an H&S has broken down that would look for the 4165 area on ES. That would be a backtest of the daily middle band as...

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Tag: Jack’s CAP

Candidate Retracement Low

[vc_row][vc_column][vc_column_text]In my last post on Tuesday I listed the three obvious targets for the current retracement from the all time high on SPX. The highest was the rising support trendline from the March 2020 low and that target was hit at the low yesterday. So far that has delivered a large rally and may well...

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