Back to back reversal trend days which we haven’t seen in a while, and NQ has now made the new ATH that Stan and I were looking for. My video was moved from premarket to just before midday this morning, as a big Windows 10 update took my media computer hostage for several hours and I had to wait for that to finish. Here is the section on ES, SPX, NQ and TF. Intraday Video – Update on ES, NQ and TF:
Surprisingly interesting action on SPX/ES today and the possible 2017 highs on SPX and NDX that Stan and I are looking for in the next three or four days may already be in. Intraday Video – Update on ES, NQ and TF:
If it weren’t for cryptos, I wouldn’t have anything to talk about. Because, Jesus Tap-Dancing Christ, the completely-rigged, utterly-controlled equity markets have become as boring as the director’s cut of a Janet Yellen sex tape.
Having said that, it’s refreshing to see charts which actually act like charts, such as LiteCoin (which seems due for a breather right about now):
One of the few interesting patterns I see cooking right now is crude oil which, on an intraday basis, has an extremely well-formed top.
Looking at the shorter term charts there are some signs that we might see a retracement, though with Fed tomorrow any retracement may need to wait until then. There is a possible case for NQ to backtest the weekly pivot at 6344. Intraday Video – Update on ES, NQ and TF:
A modest storm by US standards is passing over the UK. We have enough snow for a modest selection of snowballs, and I’m planning a quiet weekend in, relaxing while doing no more than an absolute maximum of seventy charts and three videos before Monday. I might light a nice coal fire if the snow lasts.
Intraday Video – Update on ES, NQ & TF:
I’ve been struggling to get my morning posts out in recent months, and that’s because my workload at theartofchart.net is substantial and still growing. Every morning before the open I update and publish charts on nineteen different futures and forex instruments and record a premarket video looking at all of those. This must be my main priority.
A possible solution I am looking at is to clip the equity indices section from that premarket video, and post that with a chart or two before or near the open. This should allow me to get back to doing these free posts on indices every morning which I’d like. Trying that out today. Tell me what you think.
SPX is approaching channel support now in the 2621 area and that is a match with rising support on ES. I’d be surprised if that wasn’t tested and that could break at that test, though I’d prefer to see it hold. SPX 60min chart: (more…)