- 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, 15 November 2016

The Triangles Break Up

Apologies for the late post today. My wife has been unwell and I've been juggling various priorities today.

SPX has spent the last couple of days forming triangles on both ES and SPX and the triangles have now broken up. This should deliver at least a retest of the current swing high at 2182.30 and when seen that will set a possible 60min sell signal brewing. It could reverse there, though my lean would be to then see a retest of the all time high at 2193.81, as I also have a larger fixed flag target there. Hopefully by then the current move will be better defined with an identifiable pattern. SPX 60min chart:
ES Dec 60min chart:
Now that the triangle has broken I'll be sifting through the SPX/ES, NDX/NQ & RUT/TF charts tonight looking for patterns and trendlines & I'll be reporting back on that tomorrow. Until then this is is all still fairly amorphous in terms of the trendline/pattern setup and I'm keeping an open mind.

I'm unable to add the screencast links for these charts at the moment as Screencast are experiencing technical difficulties. I'll be adding those when I can.
Posted by Springheel Jack at 15:22
Labels: , , , ,

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)