Twas (The Day Before) The Day Before Christmas and ….

My expectations for the tape today aren’t high. Volume will be low and we may not see much of interest on any markets before next week. Indices might avoid the vague upward drift we see on days like this so often, but it’s unlikely there will be much in the way of nice intraday setups, […]

Ho Ho Ho Hum

The tape is low volume and has been pretty dull this week on indexes, particularly on NDX/NQ. Volume is unlikely to increase much before next week and the tape may well remain boring, though at the time of writing ES and TF are making a spirited attempt at converted the weekly pivots there to resistance, […]

The Inchworm Cometh

I didn’t manage a post in RTH today, but I thought I’d use this opportunity to do an after-market post looking at the strong resistance that is (very slowly) being retested here on RUT and TF, and to review the shorter term setups forming as the market vaguely meanders towards those retests. On RUT the […]

Triangles within Triangles

Friday didn’t go as I expected, with the bullish triangle breaking down and backtesting broken triangle support at the close. That was a distinctly bearish setup but the overnight action made it clear that all we have been seeing is since Friday morning is Friday morning’s bullish leaning triangle evolve into a larger bullish leaning […]

Retest, Probably

No retest of the highs yesterday, but I’m still optimistic about seeing that today or Monday. ES and TF both look encouraging for seeing that, though NQ is showing a more bearish lean. On ES there is a likely bullish triangle forming that should deliver a retest. I have triangle support currently in the 2253.5 […]

Meanwhile, Back on Earth

Same old FOMC yesterday with a lot of wind, a lingering smell, and a vast amount of analysis of a move that was difficult to detect without a microscope, and is largely irrelevant to real world interest rates in any case. Moving on … SPX tested my target trendline for this move on Tuesday and […]

The Fed Wind Always Blows

FOMC day again today and as ever I’m astounded by the number of people hanging onto Yellen’s every word, and what a market moving event this tends to be. Even more amazing is the importance that everyone seems to attach to the Fed’s ‘control’ of interest rates, and in the event that they show a […]

Canary In A Coal Mine

I posted the RUT 60min chart on Friday morning showing RUT testing a decent looking rising wedge resistance trendline and obviously expecting that to hold. If you were just watching SPX and NDX over the rest of the day you might well have assumed that the RUT wedge resistance was demolished by the bulls, but […]
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