Jack’s CAP – Page 18 – The Art Of Chart

Tag: Jack’s CAP

Testing 3300 on SPX

The nice topping setup from my post last week failed to deliver, with SPX finding support once again at the daily middle band, and the very nice bull flag channel on NDX failed to break down as I was hoping it might. Instead it continued to form and delivered the high retest that we have...

Possible H&S Forming Here

SPX didn't quite reach the 3290 bull scenario target area that I was talking about last week but made a respectable 3280 or so before rejecting back into a retest of the established support and possible H&S neckline in the 3200 area. The SPX hourly RSI 14 sell signal reached the possible near miss target...

Three Theoretical Bears

Just to start I want to state a clear health warning for the historical stats I'll be weighing at the start of this post. This stats can give a useful lean, but even an 80% bullish lean still assumes 20% odds that the market closes higher that day, and this lean in either direction does...

Moving To The Next Screen

One thing I try to stress in these posts is that the movement of the market can, to a significant extent, be broken down into a series of inflection points and, depending on the outcomes at those inflection points, the market moves to the next inflection point or screen. Last week there was a very...

Quick Update On COVID and SPX

I was reading a very interesting article yesterday on the progress of COVID-19 and it was interesting not so much because of what was said, as for the decent quality numbers that it was quoting on COVID-19 exposures in the US population, and the fatality rate from the now decently sized statistical sample of exposed...

A Killing Joke

I was asked an interesting question yesterday in our monthly free public Chart Chat at theartofchart.net, and I'd like to talk a bit about that before I start looking at markets today. The question was whether, given that market prices reflect everything that is currently known at the moment about that market, then how can...

Invisible Sun

I've been hesitating about doing another post on COVID and the impact on the economy, and likely further impact on markets this year, because in the run up to the US presidential election almost any comment on these issues seems to be taken as pitching in for one side or the other in the election....

Testing The NDX Resistance Trendline

Just a reminder before I get started that we are running our July 4th sale at theartofchart.net at the moment and that will be running until the end of next week. For the duration of the sale annual memberships are available for the price of only eight months at the monthly rate rather than the usual ten...

Janus Flag Targets

On Friday afternoon. in the webinar I posted on my twitter, I was talking about the either way setup that had formed on equity indices with the formation and break down from head and shoulders patterns on SPX, NDX, RUT and INDU. I noted that on this setup there were only two strong targets to watch, and...

The Greatest Fool

It has been strange watching the markets climb higher in this tremendously strong impulse at the same time as the Fed and others have been talking about a possible contraction in world GDP this year of 25% or more, by far the worst world contraction on record, in the shortest time. I noticed an analyst...