Netflix, for all its wild movements over its existence, has followed a surprisingly steady ascending channel.
I tend to look at any bear setups lately with a very sceptical eye, and the nice looking nested double top setups on ES and NQ that last week closed with didn’t long survive the start of trading this morning. I posted on my twitter before the open that there was a high quality support trendline on ES in the 2805 area that would need to be broken to open the possibility of further downside, and that was not broken. In my look at ES in today’s intraday video I am looking at two possible matching resistance trendlines, currently in the 2833 and 2840 areas, but rising of course. Intraday Video – Update on ES, NQ and TF:
My life revolves about SlopeCharts (both as a user and as a developer), and I don’t think I’ve ever been so excited to announce something new in this product. I call it SWELL (Slopecharts Worldwide Economic Library Lists), and it provides access to an ungodly amount of economic data (literally hundreds of thousands of items) that in some cases goes back hundreds of years. Simply stated, the size of the SlopeCharts database just went up about a hundred-fold.