- 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, 16 December 2011

One Chart Post

I'm unexpectedly going to be out almost until the market opens today, so I'll just post one ES chart to show where we are now. The bounce I was talking about yesterday into declining resistance on ES has completed overnight so the question is whether we break up from the falling wedge today, or break down towards wedge support. I've marked up the trendlines and targets on the chart:
I'm leaning slightly towards seeing a break up today, but not with any great conviction. We'll see which trendline breaks. The Gap Guy likes the odds for a gap fill today, but if we see that then we'll obviously be breaking downwards and we'd most likely see more downside into Monday if that's the case.
Posted by Springheel Jack at 04:27

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