Tag: Jack’s CAP

So Here We Are Again

On Tuesday I was looking at the obvious resistance trendlines on SPX that might be hit this week in the 2885-2900 area and I've been watching those since. This morning they have been hit at 2891/2 with a possible hourly RSI 14 sell signal brewing, so this is an important inflection point and possible swing...

read more

Tag: Jack’s CAP

Topping Options

The short term resistance on the SPX 5dma and 50hma that held for much of last week eventually broke and delivered the high retest and marginal higher high that I was looking for in the event of that break. So what now? Well I'm expecting this to be the second high of a double top...

read more

Tag: Jack’s CAP

Backtest Or Retest?

The first move down on equities has delivered nicely, and at this point the time has come for the rally that is in progress at the moment. Now on the bigger picture this is an inflection point test of trend resistance, and the alternate inflection point outcomes are either a failure at resistance into another...

read more

Tag: Jack’s CAP

So Here We Are Then

Last Friday, I was saying that my preferred scenario on SPX would deliver a marginal new rally high to make the second high of a double top to then take SPX back into the 2600-50 area. We have seen that marginal higher high, the middle of this cycle high window is today, and the stats...

read more

Tag: Jack’s CAP

Back On The Three Day Rule

I was looking at the likely reversal back up on Friday morning and obviously we have seen that. ES/SPX have since broken back strongly over the multiple resistance levels in the 2660-70 area, weekly and monthly pivots, daily middle band 5dma and 50 hour MA. So now what? Well in the short term a retracement...

read more

Tag: Jack’s CAP

Looking For This Retracement Low

Everything that I was looking at on Wednesday has delivered except that SPX has not quite yet reached the H&S target at 2720. The daily RSI 5/NYMO sell signal fixed and reached target, the hourly sell signals on SPX and RUT both made target, and while SPX might need another marginal lower low to reached...

read more

Tag: Jack’s CAP

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...

read more

Tag: Jack’s CAP

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 -...

read more

Tag: Jack’s CAP

Topping Out …….. Probably

SPX and NDX reached the resistance areas that I was looking at and may be topping out there, the rising wedge support trendlines on SPX, NDX and RUT have all now broken down. So what now? Well on SPX I have been watching three levels which are all currently in the same area. These are...

read more

Tag: Jack’s CAP

SPX Rising Channel Support Broken

I was looking this morning at the decent looking possible rising wedge resistance trendline established on SPX at the highs this week and watching with great interest as rising channel and now possibly wedge support was tested again this morning. The trendline held on the first test and then broke on the second, so there...

read more