- 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.

Friday, 23 February 2018

Price Is King

Since I started posting on YouTube a few weeks ago we have doubled subscribers on our channel there to slightly under 500. I have calculated that if we can continue doubling subscribers every two months for the next three years then we can overtake the current biggest YouTube star, currently at about 80 million subscribers I think. I'm certain PewDiePie is watching our relentless march towards YouTube greatness with great concern. :-)

On the video below I'm looking at the option that SPX breaks over daily middle band at the close today, something that is now looking likely. That would make a retest of the recent high at 2754.42 likely in my view, and unless we were to then see a rejection candle below the daily middle band on Monday, then we might well see continuation higher. That would suck but price makes these decisions, not analysts. Intraday Video from theartofchart.net - Update on ES, NQ and TF:
The daily middle band has been tested exhaustively over recent days and I was saying in one of the free webinars we did last night (recordings posted on our February Free Webinars page) that I would prefer not to see another test today, as if price keeps knocking on a door long enough, it tends to open. The level, now at 2725/6 has been tested again today, and currently it appears to be breaking, though there can be no clear break until the RTH session has closed. SPX daily chart:
Everyone have a great weekend! :-)

Thursday, 22 February 2018

Still Testing SPX Middle Band Resistance

I try to post a full video once a week so I'm posting one today. If you're just interested in the equity indices I cover those at the start of the video. Stan and I are doing two free webinars tonight, the first is on trade execution 30 minutes after the RTH close, and the second is on the big five stocks and sector ETFs an hour after the close. If you'd like to see either or both you can register for those on our February Free Webinars Page. Full Intraday Video from theartofchart.net - Update on ES, NQ and TF ..... and CL, NG, HG, GC, ZB, KC, SB, CC, ZW, DX, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and NZDUSD:
SPX has rallied back to test the daily middle band again today, and rejected there again so far. As long as that remains the case then the likely next leg down has started, though confirmation of that only comes with the break and conversion of 2700 to resistance, which we are still waiting for. If SPX should break and convert the daily middle band then we would likely see the rally high retest that we didn't see yesterday, and bears would then need to deliver a rejection candle back below the middle band tomorrow. We shall see :-) SPX 60min chart: