Tag: NDX

Nosebleed Highs

The high earlier this year was at the main resistance trendline on SPX, starting at the low in March 2009, support at the low in 2010, broken as support in 2011 and then backtested as resistance then and several times since. The high yesterday was just shy of a full test and that has broken...

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Tag: NDX

Degrees Of Separation

My apologies for my being unusually quiet over the last few days, My wife of 23 years and I are starting the process of getting divorced and I have been distracted by that. It's definitely for the best, and likely this would have started a year ago if she had not been diagnosed with cancer...

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Tag: NDX

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...

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Tag: NDX

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...

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Tag: NDX

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...

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Tag: NDX

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....

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Tag: NDX

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...

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Tag: NDX

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...

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Tag: NDX

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...

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Tag: NDX

America Is Burning – Buy!

SPX made it to the 3100 area as expected, and a bit higher, and is now at the last big inflection point area before a retest of the all time highs. Why is this a big area? Well this is the last big fibonacci retracement level, and there are two significant high levels here, the...

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