- 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, 31 October 2016

Happy Halloween

As downtrends go this has been uninspiring, but a lower low was made on Friday and I'm wondering about a possible flag channel support hit in the 2095 area. SPX daily chart:
Short term resistance I'm taking from ES, and that is very definitely at the new weekly pivot at 2128.75 (2133/4 SPX area), which has already been tested and held twice so far this week. As long as that holds as resistance my lean is short. A break above opens up a possible higher resistance trendline test in the 2135/6 ES area (2140/1 SPX area). A break above there would look pretty bullish, and I'd then be looking at the potentially very bullish double bottom setup here on NQ. ES Dec 60min chart:
Strangely the first day of November tomorrow is the least bullish leaning day of this week historically, at about 52% bullish, but this is a bullish leaning week. Unless we see a break up this may be another dull week.

Stan and I are doing our monthly public Chart Chat at theartofchart.net on Sunday. That is free to all and seating is limited to 100, so if you want to attend you should register on this page here as soon as possible to make sure of a place. We're be running through the usual 30 to 40 instruments over all the main trading market areas.

There's something I also wanted to mention that we've been doing for a few weeks now that is free to all as well, and that is the weekly call posted on Sunday afternoons. Here is the one for this week. This is where we select a couple of futures that look like a good prospect for the week and these have been doing very well so far. Well worth a look if you trade futures and you can always find the current page under our main blog posts header here.

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