Charts I’m Watching: Feb 11, 2015

Yesterday’s forecast worked out reasonably well.  From the members’ section:

I’m looking for a pop in SPX to the purple .618 at 2060.74, after which we might see it retreat.

Then, after reaching 2060.74:

Just reached our first target at the .618.  I think it’ll keep going, probably up to the .786 at 2065.87 — though it might not be a straight line.

We took a shot at a short position at 2065, but with the understanding that we might be premature:

I’d take a crack at shorting it here at 2065.72…If I’m wrong, we should see the .886 at 2068.92 instead.

SPX topped out at 2070.86 before closing at the .886 at 2068.34.

2015-02-11 SPX 30 0600This morning, we have a battle between the ill effects of tumbling oil prices…2015-02-11 CL 30 0615…and the carry trade magic of a rising USDJPY.  2015-02-11 USDJPY 60 0600Which will win the hearts and minds of equity investors? Or, more accurately, which will trigger the stronger algos?

continued for members…


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