I christened a new TA setup in yesterday’s Chart Chat and I’ve clipped out the beginning of that to show what I was saying on the ES/SPX, NQ/NDX and TF/RUT charts then. I’m not certain that this innovation will guarantee my elevation to the TA Hall of Fame, but at the least it was funny and you can see that clip here:-) – The Springheel Splodge revelation.
As I am saying in the clip, the bears have something to prove here in terms of showing that this might be a two way market, but there is a retracement coming at some point that should retrace this triangle thrust back to the 2168-70 area and possibly lower. I talk in more detail about the short term setup in the video I recorded this morning. The charts below are the ES, NQ & TF charts I posted for members at theartofchart.net this morning.
ES Dec 60min chart:
NQ Dec 60min chart:
TF Dec 60min chart:
I talk in detail about these charts in my premarket video for Daily Video Service members at theartofchart.net this morning. These usually run about ten minutes but there were so many interesting setups today (all outside equities), that I took some extra time and also covered the HG, KC & SB charts which aren’t covered every day, in addition to the usual eight tickers which are ES, NQ, TF, DX, CL, NG, GC & ZB. You can see that video here.
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