- 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.

Monday, 9 March 2015

A Compelling Case for 2050-7

The H&S on SPX broke down on Friday and that has a target in the 2054/5 area. SPX 15min chart:
That target is backed up on the daily chart by the daily lower band being in the 2053.6 area. SPX daily chart:
That target is also backed up on the weekly chart by the weekly middle band being in the 2057 area. SPX weekly chart:
There is a very clear support cluster in the H&S target area and that strengthens the already high probability pattern target at 2054/5. I think that target will be made, possibly today, and that we should see at least a decent bounce at that support. We may of course see a bounce on the way as well, but that should just be a rally to sell.

No comments:

Post a comment