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Apologies for the late post today. I have had a very intense morning for one reason and another. I’ll just do a single chart post today as the setup on SPX here is straightforward.
Obviously the triangle broke up yesterday. SPX made a marginal new all time high and so on. I have a possible channel resistance trendline drawn in on the chart below that hasn’t been tested yet and may well hold. I have open 5min and 15min chart sell signals triggered at the (more…)
All the comparisons to 2000 seemed a little far-fetched………until today.
Before the opening bell, I was looking at my iPad from the comfort of my bed, and I took a few screen shots for posterity.
It looks like it is time to go SHORT E-mini S&P500 Futures…
Our PRICE EXTENSION ANALYSIS model below shows how far a price retracement (uptrend) can go on each time period, based on the statistical analysis of all the historical retracement patterns that share similarities with the current retracement pattern.
>> Click here if you want to receive this analysis every day in your inbox. (more…)
I wrote last night about Bears in the Balance, musing that if we pushed a little higher, it was pretty much curtains for the bears. Well, that’s what happened: the S&P 500 and NASDAQ both closed at the highest levels ever recorded. The NQ has burst above its pattern, yielding a very bullish breakout:
