NDX – The Art Of Chart

Tag: NDX

The H&S on NDX

[vc_row][vc_column][vc_column_text]On the last big move up on equities the main and, almost only, driver was Tech. That has ended for the time being and, since it ended, Tech has been leading the way down. For that reason I have mainly been looking at NDX for signs that this retracement might go lower. In my premarket...

A Changing Of The Guard

[vc_row][vc_column][vc_column_text]In my post a week ago I was looking at the runaway move on Tech, and the way the move had just blown through some serious sell signals on SPX without breaking a sweat. These moves can end anytime of course, and it may well be that the move has ended, with a powerful rotation...

Beware Of The Balrog

[vc_row][vc_column][vc_column_text]Last week I was looking at the decent looking resistance trendlines and growing mass of negative RSI divergence on both SPX and NDX. Over the course of the last week first the SPX resistance trendline broke, though this could still be a bearish overthrow, and then the daily RSI 14 sell signal failed on Friday,...

There Is No Spoon

[vc_row][vc_column][vc_column_text]It has been a few weeks since my last post, as I've had a lot of stuff to sort out. That's pretty much done & I have returned. As it happens, this doesn't look like a bad time to be coming back. My speciality is patterns and reversals and we have some nice patterns and...

High Retests Likely

[vc_row][vc_column][vc_column_text]I mentioned in my post on Tuesday morning that the historical stats for the rest of this week leaned bullish, and that the stats for next week after the holiday all lean bearish, and after the low on Tuesday afternoon we've been seeing that deliver so far. I capped the chart below after the close...

Taking Stock

[vc_row][vc_column][vc_column_text]One thing I always like to see on SPX the day after I call a possible high area is a big gap down and I wish that happened every time. Alas it does not, but it was nice to see that happen this morning. In terms of the trendlines I was looking at in my...

Minority Report

[vc_row][vc_column][vc_column_text]The SPX daily upper band ride finished a few days ago. SPX has gone higher in the last week, but not quite reached the upper band again, and there is no particular reason to think that the daily upper band ride might resume. SPX hasn't quite reached the obvious trendline resistance from the October 2023...

Likely Retracement Coming Soon

[vc_row][vc_column][vc_column_text]I'm expecting to see a retracement of the move up from the October lows start soon, and there are some targets I wanted to see made on equity indices before that happened. The last two of those were made on Friday. The first of those was a retest of the all time high on NDX,...

Daily Upper Band Ride – Day Seven

[vc_row][vc_column][vc_column_text]I was looking yesterday morning at the daily upper band ride on SPX which had been going for six days. That's not that long for one of these, the last three lasted six, seven and eleven days. Eleven days would be getting long in the tooth for one of these and I think I can...

We Are Where We Are

[vc_row][vc_column][vc_column_text]Friday 19th January was a disappointing day for bears. SPX made a new all time high, which had been obvious unfinished business above, and when ES was in the 4850 area there was an hour or so when there were lovely little double top setups on SPX, NDX and Dow, hourly negative divergence on all...