Charts I’m Watching: Aug 25, 2014

Potential IH&S for ES?  Looking for a potential pullback after SPX 2000, with USDJPY and interest rates representing at least temporary headwinds.

2014-08-25-ES HS 0600

 

UPDATE:  11:00 AM

Small scale 1.618 for both ES and SPX.

2014-08-25-SPX 5 0754

The IH&S, if we get a pullback, for SPX.  USDJPY is slumping, but stocks are ignoring it at the moment.

2014-08-25-SPX 60 0754

UPDATE:  EOD

Save by the bell (and USDJPY.)  Stocks reversed at the aforementioned 1.618, but weren’t allowed to get any momentum going.  Interestingly, this leaves more downside potential.


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