- 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.

Thursday, 12 October 2017

Stamped On These Lifeless Things

There are now both possible RSI 14 and RSI 5 sell signals brewing on the SPX daily chart. Sometime in the next few days these are likely to fix as a retracement begins that should at least take SPX back to the daily middle band, currently at 2523. SPX daily chart:
There are possible double top setups on both ES and NQ. The ES pattern is a possible match with a test of rising support. All of SPX, NDX and RUT are still on hourly RSI 14 sell signals. ES Dec 60min chart:
NQ Dec 60min chart:
There have been possible reversal patterns formed on TF over the last few days, but overall the likelihood is that TF has been correcting in time rather than price. If so this is a likely bull flag forming. TF Dec 60min chart:
This has been some stupefyingly boring tape so far in October and a decent move in any direction would be a refreshing change of pace. That move should be a retracement, starting in the next few days, which may not be a large one.

Stan and I are doing a free public webinar on our Big Five stocks an hour after the close tonight at theartofchart.net. These are AAPL, AMZN, FB, NFLX & TSLA. If you would like to attend then you can register for that on our October Free Webinars page.

No comments:

Post a comment