Finally In The Inflection Point

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Well here we are at last. NQ broke over last night’s bull flag and NDX is trying to break over daily middle band resistance. NQ has reached the minimum bull flag target at 5815 and is in the inflection point that I’ve been looking for. On a break up from the inflection point we likely see all time high retests on NDX/NQ and SPX/ES. On the bear scenario here we see likely hard fails back into last week’s lows, and likely continuation down from there. Price must decide which.

SPX has repeatedly held the daily middle band as support and may be starting a move up to a full retest of the all time high. SPX daily chart:

170623 SPX Daily

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Intermission Day

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Stan was suggesting in his post market video last night that today might be pretty quiet, and so it was. Lovely two way day for intraday trades and I had a very enjoyable trading day myself calling the move up and then the fail in the final hours, but nothing much happened from a swing trader perspective apart from compression for the next move, in a direction still to be determined.

Nothing of any significance happened on the SPX daily chart. SPX daily chart:

170622 SPX Daily

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Buying the Farm

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I wanted to follow up about my Sharing in Action post. In the post, I gave a real-life example of how the Publish/Share feature in SlopeCharts can help one uncover new ideas.  Specifically, a Sloper named DoubleNaughtSPY had a watchlist with some interesting symbols I had never followed, including one i particular that caught my eye, FARM. Thus, I shorted 700 shares of it at the point where the arrow is marked.

0622-FARM

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