Tag: NQ

Rally Bear Flag Setup Much Improved

My last few posts have been a coronavirus COVID-19 series, so I'm putting in the links here so as to refer back to them easily for now. These are the eleven posts so far. I'm planning to finish this series with a post on the likely economic impact of COVID-19 over the coming year, and...

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Tag: NQ

The January Barometer

When I looked a few weeks ago at the stat for the first five days of the year I found that the correlation with the yearly close there was essentially random, so I was wondering when I had a look at the full January Barometer stat whether I would find the same but was pleasantly...

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Tag: NQ

Not Even A Mouse

Well the holidays are upon us, and many of those of us with lives, or even just social lives, have taken a couple of weeks off to do non-market stuff. Even the algos seem suspiciously quiet and may be taking a few days off too. I'm still here because .... well ....... it's my job,...

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Tag: NQ

Onwards And Downwards

It's been a while since my last post and my apologies for that. It has been an intense summer of medical treatments for my wife, exams and results for my children, computer upgrades and so on. I've been feeling somewhat drained. However the market has so far avoided being as tedious as it often is...

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Tag: NQ

Topping Out Here …….. Probably

In my premarket video this morning for daily video service at theartofchart.net I was saying that until demonstrated otherwise I was expecting to see all time retests on ES and NQ before a possible swing high (and potential significant top). That high retest is at 3027.75 on ES and the high today so far has just missed...

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Tag: NQ

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 -...

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Tag: NQ

Topping Out, Probably

SPX went up through both of the annual pivot and 50dma resistance levels and has come close to a test of declining resistance from the all time highs, now in the 2690 area. I was talking earlier this month about the vital importance of monthly closing resistance at the monthly middle band, now at 2664....

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Tag: NQ

Bear Flags and SPX Annual Pivot

In the video below before the open this morning I looked first at the clear bear flag rally patterns developed on ES, NQ, RTY, DAX and ESTX50, then SPX, NDX and RUT. That's a lot of bear flags and while these don't always break down, they usually do and the odds favor that again here....

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Tag: NQ

Need To Know Your ABC

I was saying after the SPX support trendline touch a few days ago that having a strong three-touch support trendline cuts both ways, in that it is strong support while it holds, but can get ugly fast when it breaks. The strength of this push down after the support trendline broke on Wednesday morning was...

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Tag: NQ

Updated SPX Roadmap

I was saying in our free monthly Chart Chat on Sunday that the obvious next downside target on SPX was main channel support, and a test of that trendline that would mean that the channel had likely evolved into a rising wedge, which is something that happens regularly. If you'd like to see the recording...

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