- 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, 26 December 2014

Ho Ho Ho Hum

Apart from Wednesday the stats for the trading days this week have been very bullish and the most historically bullish day of this week is today. Notwithstanding that, the close on Wednesday looked bearish and if we should see a break back below 2082 then I would have a modest double top target at 2076.5. Regardless of that though the stats for today are so bullish that I'd be expecting a very likely close up from Wednesday's close at 2082. SPX 60min chart:
Of the four previous runs over the 5 DMA from a significant low this year the shortest run ended on the eighth day. Today is day seven so even without the bullish stats for today that would suggest decent support at the 5 DMA, which closed at 2075 on Wednesday. SPX daily 5 DMA chart:
The playing field becomes more even next week as volume comes back into the markets. Monday and Tuesday have neutral stats and the stats for Wednesday as the last trading day of 2014 are strongly bearish. If we see 2077 today I'll be a buyer there.

No comments:

Post a comment