Charts I’m Watching: Sep 25, 2014

Nothing new since yesterday, except ever more overbought DX, USDJPY and NKD.

SPX’s SMA50 is still in view, despite yesterday’s nonsensical algo-rally that created a nice little rising wedge.  Keep an eye on the falling red channel, as it also offers a potential path to the SMA100 if TPTB so wish.

2014-09-24 SPX 15 0600

UPDATE:  12:30 PM

Since we reached and surpassed the SMA50, here are a few additional mileposts for any further decline:

SPX:  SMA100 at 1953 or .618 Fib at 1958, and an interim target at 1965-1967
NKD:  16,095 or 16,060
USDJPY: 108.40
10-yr: 2.495%, 124’275
VIX: 16.85 or 17.23 (but, lots of games being played here – witness the .58 candle on 1-min chart at 12:40)

 

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