Charts I’m Watching: Aug 17, 2018

It was a rather listless after-hours, with ES meandering back and forth across its SMA10 following yesterday’s continuing bounce off our initial downside target.Consumer sentiment and leading indicators will be released at 10am this morning, perhaps offering traders some direction. In the meantime, oil and gas have bounced, USDJPY has slumped, and VIX is back … continue reading →

The Recovery That Algos Built

We all know about the strong earnings, stimulative tax cuts, low unemployment, etc. which have driven this recovery.  These are the headlines that scream for our attention every day. Here’s a quick counterpoint: the algo-driven aspect of the recovery. For those not familiar with Fibonacci ratios, here’s a quick primer. Suffice it to say that SPX has paid … continue reading →