SPX – Page 26 – The Art Of Chart

Tag: SPX

Looking At The Bigger Picture

SPX retested the retracement low this morning, so the Three Day Rule target has been reached. This is a return to form after the first fail on this stat since the start of 2007 in April/May 2018. Still the strongest stat I follow. So what now? From a cycles perspective there is a cycle high...

Don’t Fear The Reaper

It has been a while since we have seen a Three Day Rule signal fix, in part because the rule requires an initial 2% decline, and those have been pretty rare over the last couple of years, but the Three Day Rule triggers when there has been a minimum 2% decline on SPX and then...

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...

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...

Potholes On The Yellow Brick Road

On Thursday morning my SPX path that has held the last four weeks hit a serious pothole with the break below shorter term rising wedge support and a break back into the high 2800s. I've been looking carefully at the options from here and there are clear bull and bear scenarios. Price needs to give...

Clean Clean

In my last post I was talking about the touch of the rising wedge support trendline that I'd been looking for, and the bull flag that was forming on SPX, that should break up today if not seen on Friday. SPX gapped up through flag resistance at the open today, and the minimum flag target...

FOMC Day

So far the scenario I was laying out on Friday has been playing out perfectly with the two red days at the start of this week, and SPX backtesting obvious trend support at the 50 hour MA twice. SPX didn't quite retest Monday's low yesterday, so the double bottom setup here isn't perfect but SPX...

The Wicked Witch Of the West

Looking at the average rises and falls on SPX from the start since 1997, the most bearish straight sequence of days of the year are the six days from 19th September through 25th September. Within those six days, usually including the September quadruple witching, the lowest percentage of positive closes is 23rd September at 26.67%...

Looking For A Retracement Low

Since I was writing on Friday the bull flag megaphone has broken up, a rising wedge formed on ES into yesterday's high, and then that wedge broke down with the obvious target at a retest of the retracement low. So far however this has delivered higher lows on SPX and ES, and ES is again...

Forming The Bull Flag

Apologies for the lack of updates this week. I've been reorganising my office which has been time-consuming though very satisfying. The video below is the full premarket video that I do every morning at for subscribers and there are quite a few charts at very interesting stages, most definitely including SPX/ES here. When I was...