Tag: SPX

Decent Looking Candidate Low

[vc_row][vc_column][vc_column_text]SPX rallied hard on Friday and so closed back well above my retracement target support trendline, so that has held on a weekly basis and may still hold as the retracement low here. So how is this low looking as a possible retracement low? The first thing to say that my possible very bullish scenario...

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Tag: SPX

Friday The Thirteenth

[vc_row][vc_column][vc_column_text]In my posts over recent weeks I have been following on from my post of 6th August 2021 when I was looking at the possibility that there would be a retracement this year to backtest a major broken resistance trendline on SPX, and the possible very bullish setup that a good retest would partially confirm....

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Tag: SPX

Testing Ideal Backtest Area

[vc_row][vc_column][vc_column_text]In my posts last week I was talking about my post of 6th August 2021 when I was looking at the possibility that there would be a retracement this year to backtest a major broken resistance trendline on SPX, and the possible very bullish setup that a good retest would partially confirm, and I looked...

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Tag: SPX

Another Three Day Rule Target

[vc_row][vc_column][vc_column_text]In my post earlier this week I was talking about my post of 6th August 2021 when I was looking at the possibility that there would be a retracement this year to backtest a major broken resistance trendline on SPX, and the possible very bullish setup that a good retest would partially confirm, and I...

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Tag: SPX

Oversold Bounce

[vc_row][vc_column][vc_column_text]On 5th July last year I was updating my SPX monthly chart and added a scenario for a retracement that I thought might take place in the next few months, and talked about that in webinars at theartofchart.net. On 6th August I then wrote a post about that scenario looking for a backtest of a...

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Tag: SPX

Breakout Opportunity Here

[vc_row][vc_column][vc_column_text]The bulls delivered a strong rally yesterday and there is actually a decent looking setup for a break up here that might well then deliver a fast retest of the all time highs on SPX. A daily RSI 5 buy signal fixed on NDX at the end of last week, which I wasn't taking particularly...

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Tag: SPX

Now The Support Test

[vc_row][vc_column][vc_column_text]On Friday morning I was looking at the short term bull and bear options on SPX and at support and resistance levels being tested. The main resistance level was of course the weekly middle band, now at 4518 and with the SPX close on Friday at 4488, just above support at the daily middle band,...

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Tag: SPX

Between Key Support And Resistance

[vc_row][vc_column][vc_column_text]In my last post I was looking for a retracement and looking at targets below for the likely backtest that was coming, and those initial targets have been hit, more or less. The main target was the mean reversion target at the 45dma, now at 4417, and the current low this week at 4450 isn't...

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Tag: SPX

Looking For A Backtest

[vc_row][vc_column][vc_column_text]I was looking at resistance at the weekly middle band in my post on Tuesday, and SPX has broken up through that convincingly, though SPX still needs to close the week significantly above the weekly middle band, currently at 4531 to fix that resistance break. If seen SPX will then need to close next week...

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Tag: SPX

S&P Retesting Main Resistance

[vc_row][vc_column][vc_column_text]My apologies for the long wait between posts. I went out with some friends for the first time in two years on the first weekend in March and caught COVID, which has taken a while to clear. That wasn't too bad and I'm clear now though I'm still feeling low on energy. Hopefully that will...

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