Jack Chappell aka Springheel Jack - A Classical Trendline Chartist's View of Equities, Bonds, Forex and Commodities
- 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.
Tuesday 16 January 2018
Some Writing On A Wall Somewhere
Well it's been a while but something interesting finally happened on equities today with an AM high that died into a halfway decent decline. Rising support on SPX from the late December low was broken and we may well now be in the topping process for a larger retracement before subsequent higher highs.
This one is mainly interesting because if seen this should deliver a decent buyable dip, but that would be interesting to see. The high after that dip might be more interesting for a swing trade. Intraday Video - Update on ES, NQ and TF + others:
It's a measure of how strong this move up has been that a 40 handle pullback failed to reach the 50 hour MA on SPX, now at 2756. If this move is topping out, the obvious topping sequence would be a retest of the high and marginal new ATH before a move to test rising support from the November low, currently in the 2712 area. SPX 60min chart:
I've posted my full intraday video as I aim to do that once a week. Normally I'll just be posting the equity index section.
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