- 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, 26 September 2018

FOMC Day

So far the scenario I was laying out on Friday has been playing out perfectly with the two red days at the start of this week, and SPX backtesting obvious trend support at the 50 hour MA twice. SPX didn't quite retest Monday's low yesterday, so the double bottom setup here isn't perfect but SPX may well resume the uptrend directly from here.

Full Premarket Video from theartofchart.net - Update on ES, NQ, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD, AUDUSD:
If SPX does go any lower, possibly on FOMC, then I'd note that gap support is at 2906/7 and rising wedge support and the daily middle band are both now at 2900 and, if tested, I'd expect support here. The historical stats for today and tomorrow are firmly bullish. SPX 60min chart:

We are doing our monthly free public FAANG and Key Sectors webinar tomorrow and hour after the RTH close and if you'd like to attend, you can register for that on our September Free Webinars page.

No comments:

Post a comment