- 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.

Wednesday, 7 December 2016

Hesitation Marks

NQ is still someway short of the double bottom target at 4815, but ES has now come (twice) within three ticks of the target full retest of the all time high, and should make that target shortly. ES Dec 60min chart:
So when might we see some resistance? Possibly at that ATH retest on ES/SPX of course, but if not I have a possible rising wedge forming on RUT that looks interesting. Wedge resistance currently in the 1370-5 area, but a moving target obviously. RUT 60min chart:
We're leaning bullish for much of the rest of the month, but that doesn't mean that we are expecting a big impulse up here. I'm thinking more along the lines of a two way market with an upward bias. We'll see how that goes.

No comments:

Post a comment