Charts I’m Watching: May 17, 2016

Lots of charts updated yesterday: CL, COMP, AUDUSD and DJIA.  I hope to finish several more today.

SPX melted up all day, yesterday, to the tune of CL and a late surge by USDJPY — tag teaming stocks higher.  We finally had a reversal where expected, and SPX dropped to backtest the H&S neckline its been working so hard to avoid playing out.

It appears, from the futures’ action, we’ll get a shot at the IH&S discussed near the end of yesterday’s session.

USDJPY has been all over the map lately, but still owes us a reaction to the latest .618.2016-05-17 USDJPY 60 0600 continued for members


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