Resistible Force Meets Movable Object

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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:

170505 SPX 60min

SPX daily chart:

170505 SPX Daily

The futures charts below were done before the open for Daily Video Service subscribers at theartofchart.net. If you are interested in trying our services a 30 day free trial is available here.

Solid break over the ES bull flag channel now. ES Jun 60min chart:

170505 AM ES Jun 60min

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:

170505 AM NQ Jun 60min

TF hasn’t broken up from the bull flag channel yet but is close. TF Jun 60min chart:

170505 AM TF Jun 60min

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 🙂

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