Another day with not much conviction either way, but the bull flags on ES and NQ have broken up and the odds are good that the SPX all time high will be tested ……. before the heat death of the universe ……. probably. Really dull tape this week though.
SPX 60min chart:
SPX daily chart:
Solid break over the ES bull flag channel now. ES Jun 60min chart:
NQ broke over the bull flag on the NFP numbers and has done a strange but genuinely impressive job since of not covering the short distance to the minimum target at the all time high retest. NQ Jun 60min chart:
TF hasn’t broken up from the bull flag channel yet but is close. TF Jun 60min chart:
Stan and I are doing our monthly free public webinar at theartofchart.net at 4pm EDT on Sunday. If you are interested in attending then the link to register is on our May Free Webinars page. Everyone have a great weekend 🙂