- 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, 14 December 2015

Globex Rollercoaster

SPX made it most of the way to my target area but I'm not certain it's going to make it the rest of the way. 60min buy signals are already brewing on ES, NQ and TF. I'm ideally looking for a lower RTH low on SPX, NDX and RUT, but it's possible that the lower lows already made in globex will be enough. SPX 60min chart:
NDX has already tested the obvious support trendline. Significantly lower in RTH would break that. NDX 60min chart:
RUT too has tested the obvious (falling channel) support trendline. That's decent looking support and a decent break below might follow through to the downside. RUT 60min chart:
Globex was an adrenaline-fuelled rollercoaster but has ended up pretty much back at Friday's close. I'm leaning towards slightly lower lows in trading hours and if so we would most likely make an AM high that fails into that. After that I'm favoring a decent rally.

I'm assuming that we won't see any big declines this month due to seasonality. I could be mistaken about that and did a post yesterday looking at the very bearish looking bigger picture setup. you can see that here.

Stan and I are doing a free to all special webinar on Thursday after the close at theartofchart.net with our take on what's likely to happen in 2016 across equity indices, forex, commodities, precious metals etc. We'll also be reviewing how we did on our forecasts last December. You can register for that here. Spaces are limited so if you want to attend I'd sign up sooner rather than later.

1 comment:

  1. eToro is the #1 forex trading platform for newbie and professional traders.

    ReplyDelete