Charts I’m Watching: Dec 24, 2015

Yesterday’s forecast remains in place.  SPX tagged our initial upside target — the SMA200 — and barely fell back before tagging our second — the top of the megaphone pattern.

This was impressive, given that USDJPY clearly broke trend.2015-12-24 USDJPY 60 0615But, as regular readers know, there is very strong support just below at not only the white .618 at 120.23, but the critical yellow .618 at 120.11.  I don’t know anyone who doesn’t expect the pair to be supported there.2015-12-24 USDJPY v SPX bigBesides, CL — the new star on the algo scene — more than made up for USDJPY’s slump with an impressive ramp that saw it break through August 24’s lows.2015-12-24 CL 5 0633continued for members


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