Jack In The Box Target Reached

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Yesterday was clearly a good day to introduce my new Jack in the Box continuation/flag pattern. The double bottom broke down slightly and has then reversed back into a full test of 2299.40. The full ATH retest at 2300.99 is VERY close and should be tested today if we are going to see that full retest. SPX 60min chart:

170209 SPX 60min

ES retested the globex high in RTH as I expected. ES Mar 60min chart:

170209 AM ES Mar 60min

NQ still making marginal new all time highs. Overall NDX/NQ looks extremely toppy here and I’m doubtful about significantly more upside. I was running through our Big Five charts last night (AMZN, AAPL, FB, TSLA & NFLX), and they all look as though they are swing topped or topping here. NQ Mar 60min chart:

170209 AM NQ Mar 60min

TF is finally showing some signs of life this morning, and is back over both monthly and weekly pivot resistance. I remain doubtful about a full ATH retest but maybe, and I’d very much like to see that. TF Mar 60min chart:

170209 AM TF Mar 60min

I’m expecting to see a full ATH retest on SPX and probably ES today. Not expecting to see much more than that. I do a premarket video covering ES, NQ, TF, DX, CL, NG, GC & ZB for Daily Video Service subscribers at theartofchart.net every day and I generally repost one of those here every week for those that are also interested in USD, oil, natural gas, gold & bonds. You can see today’s video here. I’m likely to be away on Monday and Tuesday next week and so after tomorrow’s post the next one should be next Wednesday.