Aces and Eights

SPX and NDX made new all time highs on Friday, and the minimum requirement that we were looking for in the high that is forming here has been met. There is a setup for sharp retracement from here, though it’s very much still in the inflection point still, and I’ll be showing you on the […]

Deceptively Close

I was saying on Wednesday last week that ES, then six handles under the all time high, was deceptively close to the all time high, and that was because ES was already making heavy weather of getting through to retesting it. Nine days later ES is seven handles under the ATH at the time of […]

Goodbye to 2016

It’s been an interesting year on equities this year, with plenty of thrills and spills, and with some extremely dull periods where volatility almost vanished. Not the easiest year to trade, but generally something interesting happening, even if that was only a record-challenging period of very little volatility like the one we saw in the […]

The Low Before The High

Just when you think the tape has gone into a persistent vegetative state it can sometimes surprise you, and ES did that yesterday with an unexpected trend down day. This is good news from a technical perspective as there is usually a spike down shortly before a significant high, and I was thinking that ES […]

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 […]

14 Trading Days Left

So as I’m sure everyone noticed, price sped up a bit this past week. It might have taken some of us (including myself) by surprise, but in the bigger picture, ever since Nov 9th kicked this rally into full gear, price has been fairly relentless ever since.  Just take a look at the 100MA deviation […]

Major Reversal for Gold?

I’ve encountered many different people in the nearly dozen years I’ve been doing this blog, and one I remember well is a chap named Hector who reached out in the late stages of the financial crisis. He had created his own style of charting that, if memory serves, he called Heccis Charts, and he provided […]
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