- 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, 12 August 2016

People from Porlock

I don't know whether many of you are familiar with Coleridge's poem 'Kubla Khan', but he told a lovely story about why this (wonderful) poem is clearly only a fragment of what should have been a larger work. His story was that he woke up from a (polite cough) vivid dream with the poem complete in his mind, and wrote down what remains as soon as he woke up. While he was still writing there was a knock on the door and he was distracted by a man from Porlock who kept him occupied for an hour sorting out something minor, and when he at last returned to his room he found that he had forgotten most of the remainder of the poem. The story may or may not be true but it's a great story, and we have all met our own men from Porlock on a regular basis I'm sure.

It's been that kind of day for me and I've been tied up by various things & I apologise for this very late post, though the charts are still relevant, and it was a reasonable inference from my post yesterday that today was likely to be dull on SPX/ES, and so it has worked out. I'm posting the ES, NQ & TF I posted for theartofchart.net members today as I haven't have a chance to redo the SPX charts, and they give a good insight into how close a top looks on all three indexes here, though I'm expecting at least TF/RUT to make a higher high next week, with a new ATH less likely but still probable on ES/SPX, and possible but least likely on NQ/NDX. ES Sep 60min chart:
NQ Sep 60min chart:
TF Sep 60min chart:
Last Sunday Stan was talking on our public Chart Chat about the high window on SPX open on Sunday 14th August with the middle of that high window on Monday 22nd August. If you haven't seen that yet the recording is posted on this page here. That's why I was doubtful about the retracement getting that far on Wednesday morning & that played out as I expected of course. We did a free educational webinar on these cycle windows yesterday and if you'd like to see that the recording is on the same page. If you are trading precious metals you should really have a look at that  recording as I was illustrating the usefulness of these windows with a look at the gold charts. I think you might find that section well worth watching.

Everyone have a great weekend. :-)

No comments:

Post a comment