- WE'RE JUST RANDOM SPECKS OF DUST IN A TORNADO TO THE MARKETS .......
- CHARTISTS MUST PUT ALL BIAS ASIDE AND LET THE CHARTS DO THE TALKING OR WE'LL SEE ONLY WHAT WE WANT TO SEE
- This blog has a copy of all header posts that I publish anywhere, so that those interested in seeing what my thoughts are on the markets can find them easily.
- I will be answering questions and responding to comments, so feel free to respond to any posts and I will see your comment even if it is not on the most recent post.
- If you're interested in seeing any intraday charts I post, I do that on twitter, and my twitter handle is @shjackcharts.
- The charts in the posts are as large as I can practically make them. if you would like to look at one more closely, click on it, and the link will take you to a larger version at screencast. If you click on that again, you will get a full page version, and can use the resizing function on your browser to enlarge parts of interest further.

Tuesday, 16 January 2018

Some Writing On A Wall Somewhere

Well it's been a while but something interesting finally happened on equities today with an AM high that died into a halfway decent decline. Rising support on SPX from the late December low was broken and we may well now be in the topping process for a larger retracement before subsequent higher highs.

This one is mainly interesting because if seen this should deliver a decent buyable dip, but that would be interesting to see. The high after that dip might be more interesting for a swing trade. Intraday Video - Update on ES, NQ and TF + others:
It's a measure of how strong this move up has been that a 40 handle pullback failed to reach the 50 hour MA on SPX, now at 2756. If this move is topping out, the obvious topping sequence would be a retest of the high and marginal new ATH before a move to test rising support from the November low, currently in the 2712 area. SPX 60min chart:
I've posted my full intraday video as I aim to do that once a week. Normally I'll just be posting the equity index section. 

Friday, 12 January 2018

Happy vs Mambo #5

I hope everyone is looking forward to the holiday weekend. I know I am, and I am planning to celebrate on Monday by moving a particularly large wardrobe from my daughter's bedroom, and replacing it with a rather nice antique desk. Life can get pretty wild at Jack's house. :-)

I was talking about rising wedge resistance on ES yesterday and that trendline has been reached and overthrown today. NQ has reached a decent quality rising wedge resistance trendline as well and TF may have topped out already. We may well see a reversal here, though whether it lasts more than the usual day or two is another matter. Personally I'll be regarding equity indices as possibly being in a two way market again only after we see a 5% pullback, and I'm aware that could take a while longer.

Intraday Video - Update on ES, NQ and TF:
Regardless of any retracement here, Stan and I would be expecting higher highs afterwards. The SPX daily chart SPX daily chart:
I'll leave you with a very funny mashup video that I found this week to start the holiday weekend: