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.
Monday 19 March 2018
A Promising Start
ES never managed to break below weekly pivot support last week but the new weekly pivot moved over price and ES is now testing the monthly pivot at 2698, which is holding so far. SPX and NDX have broken their rally rising wedges and retraced 38.2% of them, and if we are to see a backtest here, which looks likely as I write, then the obvious target would be the daily middle band, now in the 2735 area.
I've included the full intraday video today as I'm running late and I like to post one of these once a week or so. Intraday Video from theartofchart.net - Update on ES, NQ and TF, DX, CL, NG, HG, GC, ZB, KC, SB, CC, ZW, EURUSD, GBPUSD, USDJPY, USDCAD, AUDUSD and NZDUSD:
On the bigger picture we are ideally looking for a move to the 2450 area, and SPX ideally makes that in four weeks or so. As and when we make a tradeable low on this move we will be looking for at least ATH retests, so anyone looking for the bearpocalypse to start here is likely to be disappointed .... again. SPX 60min chart:
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