Yesterday was clearly a good day to introduce my new Jack in the Box continuation/flag pattern. The double bottom broke down slightly and has then reversed back into a full test of 2299.40. The full ATH retest at 2300.99 is VERY close and should be tested today if we are going to see that full retest. SPX 60min chart:
ES retested the globex high in RTH as I expected. ES Mar 60min chart:
NQ still making marginal new all time highs. Overall NDX/NQ looks extremely toppy here and I'm doubtful about significantly more upside. I was running through our Big Five charts last night (AMZN, AAPL, FB, TSLA & NFLX), and they all look as though they are swing topped or topping here. NQ Mar 60min chart:
TF is finally showing some signs of life this morning, and is back over both monthly and weekly pivot resistance. I remain doubtful about a full ATH retest but maybe, and I'd very much like to see that. TF Mar 60min chart:
I'm expecting to see a full ATH retest on SPX and probably ES today. Not expecting to see much more than that. I do a premarket video covering ES, NQ, TF, DX, CL, NG, GC & ZB for Daily Video Service subscribers at theartofchart.net every day and I generally repost one of those here every week for those that are also interested in USD, oil, natural gas, gold & bonds. You can see today's video here. I'm likely to be away on Monday and Tuesday next week and so after tomorrow's post the next one should be next Wednesday.
- 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.
- 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, 9 February 2017
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