I was talking yesterday morning about the fragility of the uptrend and mentioned that the support trendline on RUT broke yesterday at the RTH open. The SPX rising support then broke as well but ES rising support held yesterday. Overnight though that has failed as well and all of ES, NQ and TF have now broken down from clear topping patterns. I’ve given those prices on the charts below and I’m expecting all of those pattern targets to be reached, though not necessarily today.
I’m posting all of the bonus charts that I posted for subscribers at theartofchart.net this morning. These are the ones that I posted every trading day there and they are ES, NQ, TF, DX, CL, GC and ZB, with additional charts for NG and SB posted on Monday mornings. If this service is of possible interest I’d suggest that you compare today’s charts with the ones I posted last Friday and you can find those here. I suspect that you’ll be impressed. If you aren’t impressed then you should be. If you want to see these every morning these are bundled in the Daily Video service and you should sign up for that sooner rather than later, as the price for that will be rising sharply at the end of June, and that price increase will not be applied to anyone who subscribes before then, as long as they maintain a continuous subscription. You can sign up for that here.
It is also bundled in with the Chart Chat service, and there are no plans to raise prices for that anytime soon. We do a free Chart Chat webinar every month and June’s is being done on Sunday. We will be covering the usual wide range of instruments with asides into other markets if we have questions about them or they look interesting. All are welcome and there is no charge. You can register for that webinar here.
ES Jun 60min chart:
NQ Jun 60min chart:
TF Jun 60min chart:
DX Sep 60min chart:
CL Jul 60min chart:
GC Aug 60min chart:
ZB Sep 60min chart:
Today is a cycle trend day, and there are a lot of very attractive pattern targets that have not yet been reached. We may well see all of those topping pattern targets reached today. Everyone have a great weekend. 🙂
