TF – Page 5 – The Art Of Chart

Tag: TF

Testing SPX Middle Band Resistance

I have a question for my beloved readers today and I'm hoping one of you has a good answer. I've teamed up with an options expert friend to run a directional options portfolio based main on futures options for the last three months, and we've been recording the (very impressive so far) trades and results...

Into The Likely Rally High Zone

A couple of announcements today: Firstly, tonight's webinar at theartofchart.net has been delayed a week due to an unavoidable conflict, and will now be held on the same night as our Big Five & Sectors webinar on Thursday next week. You can register for either or both on our February Free Webinars page. The second announcement is that...

Trendline Evolution At Work

There has been a remarkable similarity on the patterns from last Friday's low on all of ES, NQ, and TF, with rising wedges forming then breaking down. I was expecting consolidation to establish less steep support trendlines and in a remarkable convergence, all three of those initial rising wedges evolved into the perfect rising channel...

Just Another Rally ……… Probably

Nice rally from Friday's low. Not expecting that to be the retracement low but there are fixed hourly RSI 14 buy signals that are not close to target and my lean would be that there is at least some more upside coming. Intraday Video from theartofchart.net - Update on ES, NQ, and TF: https://www.youtube.com/watch?v=HOwhzdz-KdE On the daily charts,...

Another One Bites The Dust

In Chart Chat on Wednesday morning, Stan and I were looking at the next support levels on SPX and my pick was triple support at rising support from the Feb 2016 low, and the 200dma and annual pivot levels at 2538/9, all a match with a retest of the ES globex low on Monday night. We were...

On To The Retest

ES made Stan's target area 2700-40 for the rally and all three of ES, NQ, and TF have turned back down towards likely retests of the retracement lows so far. There is still a possible case for high retests on these to make double tops to deliver that move, but I was only assigning a...

A Significant Technical Break

Well, that was interesting yesterday, and that was a really impressive move on equity indices that finally ended the longest trading period in SPX history without a 5% retracement. The mindless bullish euphoria has ended for the moment, and overall, we should be back in a more two-way market environment for a while. In terms...

Seven Percent And Counting

I was looking for a decline of more than 5% from the high on SPX to signal that the market was normalizing into a more two-way trading environment, and that has been hit today, and then some. On the video below, I was noting the large amount of positive divergence on various charts and liking...

Likely Daily Middle Band Test Next

ES/SPX just consolidating here at the moment, though if there is a break and conversion of the 50 hour MA now at 2841 that would open a test of the open breakaway gap down from 2853.53. In the absence of a breakdown, the obvious next target would be the daily middle band in the 2800...

Island Top on SPX

Well obviously SPX didn't do the higher high that I would have preferred, and this morning's gap down broke down through rising wedge support and also gapped back through the open breakaway gap up from 2839.25. This currently leaves a decent quality island top on SPX and an open breakaway gap down from 2853.53 that...