Charts I’m Watching: July 25, 2014

Amazon and Visa earnings should weight on markets today, but USDJPY is making a bid to blow through resistance.  This is critical, as the entire yen carry trade is at stake.  It was easy enough to burst through resistance overnight…

2014-07-25-USDJPY 15 min 0625

The daily chart shows the 100 and 200-day moving averages coming up on a potential cross, which would leave the 10, 20, 50, 100 and 200 all in a bearish alignment.

2014-07-25-USDJPY daily

ES has completed a little H&S Pattern, but has more downside potential if it’s permitted to get going.

2014-07-25-ES 5 0545

UPDATE:  2:00 PM

ES tagged our H&S target, might be aiming for the Fib cluster at 1963-1964 (SPX 1968-1970.)  Decent channel support there, too.

2014-0725-SPX 5 min 1100

Comments

Charts I’m Watching: July 25, 2014 — 1 Comment

  1. SPX 2hr chart is sporting a bearish deep crab, PRZ 2004-5 (futures), 2000-2002 (cash)…