Charts I’m Watching: Jun 5, 2014

SPX has broken through the previous highs and appears headed for the purple 1.618 at 1848.52.  On the other hand, it just reached the TL connecting May 2, 2011 and Dec 31, 2013 again.

2014-06-05-SPX daily 0906

Watch how the bell cows of NKD and USDJPY behave at this juncture.  USDJPY, in particular, has had trouble breaking out — even after successfully backtesting its SMA100 again.  Probably just needs to consolidate a bit.

The e-minis have reached a minor 1.272 in what has been essentially a straight shot higher.

2014-06-04-ES 5 915

Comments are closed.