- 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
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Thursday 9 February 2017

Jack In The Box Target Reached

Yesterday was clearly a good day to introduce my new Jack in the Box continuation/flag pattern. The double bottom broke down slightly and has then reversed back into a full test of 2299.40. The full ATH retest at 2300.99 is VERY close and should be tested today if we are going to see that full retest. SPX 60min chart:
ES retested the globex high in RTH as I expected. ES Mar 60min chart:
NQ still making marginal new all time highs. Overall NDX/NQ looks extremely toppy here and I'm doubtful about significantly more upside. I was running through our Big Five charts last night (AMZN, AAPL, FB, TSLA & NFLX), and they all look as though they are swing topped or topping here. NQ Mar 60min chart:
TF is finally showing some signs of life this morning, and is back over both monthly and weekly pivot resistance. I remain doubtful about a full ATH retest but maybe, and I'd very much like to see that.  TF Mar 60min chart:
I'm expecting to see a full ATH retest on SPX and probably ES today. Not expecting to see much more than that. I do a premarket video covering ES, NQ, TF, DX, CL, NG, GC & ZB for Daily Video Service subscribers at theartofchart.net every day and I generally repost one of those here every week for those that are also interested in USD, oil, natural gas, gold & bonds. You can see today's video here. I'm likely to be away on Monday and Tuesday next week and so after tomorrow's post the next one should be next Wednesday.
Posted by Springheel Jack at 10:09
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