ES reached our 50-day moving average downside target from two weeks ago a little ahead of schedule.
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Posts
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Charts I’m Watching: May 30, 2024
ES is gradually closing in on our downside target.
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Charts I’m Watching: May 28, 2024
Futures are up modestly ahead of today’s open as oil prices are once again on the rise.
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Charts I’m Watching: May 24, 2024
SPX reversed significantly at our 2.618 Fib target, closing below its SMA10 for the first time in a while.
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Another Test
Stocks have done nothing but melt up since we identified the Inverted Head & Shoulders buy signal back on Dec 11 at SPX 4604. Now, 15.3% later, stocks face another important test.
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Charts I’m Watching: May 16, 2024
CPI came in a little below expectations yesterday, meaning the meltup is continuing toward our upside targets.
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Charts I’m Watching: May 12, 2024
Greetings from Anegada, British Virgin Islands. We continue in vacation mode, with the next post planned for Thursday, May 16.
The markets continue to track our forecast, with breakouts in equities and currencies and a breakdown in VIX. Oil and gas continue to hint at a breakdown, buy this remains a wild card.continued for members… (more…)
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Charts I’m Watching: May 9, 2024
Since the channel breakout and push above the SMA50, ES has been playing defense.
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Fourth Time a Charm?
This is the fourth time in a row that ES has pushed back into the rising channel from which it previously broke down. This one is more important, however, as it has the 50-day moving average in its sights.
As we discussed last week, all the stars are aligned should the algos wish to pursue our upside targets.continued for members… (more…)
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On the Brink…Again
Already elevated on AAPL’s announcement of a historic buyback, futures popped on a weaker than expected jobs report.
The only problem is that this ramp puts them right back at the top of the channel which has prompted three previous tumbles. Will this one be any different?
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