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.
Thursday 25 January 2018
Watching the SPX Rising Wedge
I posted my premarket video today as I haven't done that in a while, and in part that's because I'm not well and trying to protect my voice today, so it makes sense not to do an intraday video today.
The analysis of equity indices is at the start of the video and I've left in the other sixteen instruments I cover every morning in these premarket videos at theartofchart.net. If you're interested, there are interesting things happening on DX & USD pairs, CL, GC, ZB & HG particularly.
Premarket Video - Update on ES, NQ, TF, and CL, NG, HG, GC, ZB, DX, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD, NZDUSD, KC, SB, CC & ZW:
I haven't been showing enough SPX charts recently, so here is what the rising wedge looks like on the SPX chart. Forming nicely, and wedge support is now in the 2831 area. Wedge resistance is now in the 2862 area, and would be the obvious next target if wedge doesn't doesn't break first. 60min RSI 14 sell signal fixed and I'm leaning towards at least a retest of the ATH even if SPX is topping out short term. SPX 60min chart:
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