Charts I’m Watching: Mar 25, 2014

Usual USDJPY-inspired ramp job on no news…

Placement of the latest SPX channel is open to interpretation.  The bullish view…

2014-03-25-SPX 60min 0618 purpAnd, the less bullish view…

2014-03-25-SPX 60min 0618 redSince the banks forced ES up overnight, we’ll assume the purple channel for now.  But, it’s the larger purple channel that needs to break down if the bears are going to get any satisfaction.

2014-03-25-SPX daily 0625The USDJPY H&S that was thwarted, but isn’t quite dead.

2014-03-25-USDJPY 15-min 0625Sunday/Monday’s spike above the channel top was quickly reversed.  We’ll keep an eye on today’s.

UPDATE:  9:45 AM

Completed Bat Pattern on ES at 1863..close enough?  We’ll see if the channel top can hold a third time.

2014-03-25-ES 60-min 0645Consumer confidence and new home numbers coming up at 10AM EST.

UPDATE:  10:30 AM

Consumer confidence is up, but couldn’t break out.  And, new housing sales (contracts) continue to slump.  Cue the fizzle (news out of China about multiple bank runs won’t help.)

Screen Shot 2014-03-25 at 7.40.42 AMcontinued for members


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