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.
Wednesday 11 July 2018
Onward and Upward
My apologies for the intermittent posts lately. As some of you will know, it has been very busy at theartofchart.net recently with the launch of a major new service for us on 25th June, Paragon Options, a directional options service trading options on futures. We've put a lot of work into developing and launching this service, which as far as we are aware is entirely unique, trading options on the wide range of futures and forex instruments we cover in our other services. Almost all or all other options services focus on stocks and ETFs. The first month is going well, up about 5% in the first two weeks and two days so far, and workload should be easing off a bit soon, but it has been very busy. My posting schedule should be back to normal soon.
Since I last posted that the retracement low was likely in, SPX formed a decent quality IHS and that has broken up and reached target at a retest of the June high. In the short term ES/SPX is retracing and ideally we'd like to see a low made today or tomorrow in the 2760-5 ES area before this uptrend resumes.
Full Premarket Video from theartofchart.net - Update on ES, NQ, CL, NG, GC, SI, HG, ZB, KC, SB, CC, ZW, ZC, ZS, DX, EURUSD, USDJPY, USDCAD, AUDUSD:
On SPX there is a clear rising channel from the low and it is this I am mainly watching here. Channel resistance is rising obviously and is currently in the 2842 area. SPX 60min chart:
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