Charts I’m Watching: Nov 5, 2013

EURUSD reacted to the .618/1.618 combo as expected, has an opportunity to reverse here at the purple channel bottom and previous high.


ES is approaching a potential midline of the admittedly unclear falling white channel.

SPX looks like it just bottomed at 1759.84 per the purple channel, while the white shows a failed breakout.  I’d want to test a long position around 1758-1760, with stops at the previous 1752.70 low.

UPDATE:  9:51 AM

This would make for a nice bottom here at 1758ish.

UPDATE:  10:00 AM

Tagging a good TL at the .786 and a symmetric shoulder on a IH&S…  Should be very close to the bottom here at 1755.78.


SPX reversed nicely at 1755.76.  Where from here?

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