The VIX (VX) surged more than 8% Friday (on the May contract), at one point breaking above the February high. The VX is trying to form a higher April low versus the March low, and is in the process of completing a major bottom (as can be seen more easily on a monthly chart on tradingview.com)…
Tag: ES_F
S&P500 (ES) Weekly Chart Ascending Wedge Support Near Complete
The S&P500 (ES) slid more than 0.5% Friday, consolidating further as seen by last week’s second straight weekly Doji near the 2024 high. ES is looking increasingly fatigued and near completion on what is arguably an ascending wedge (on the weekly chart)…
S&P500 (ES) Rejected @ Weekly Chart Upchannel Resistance
Happy 2024! Hope you’ve enjoyed the holiday season. The S&P500 (ES) edged higher Friday from the July high, but remains vulnerable going into this week after forming the 1st red weekly candle in 10 weeks. With ES having arguably been rejected by upchannel resistance (on the weekly chart), odds are moderate and rising for a swing back to upchannel support sometime in Q1 (despite December’s record high as can be seen more easily on a monthly chart on tradingview.com)…
Nasdaq100 (NQ) Vulnerable to Extending Weekly Chart Bear Flag
Nasdaq100 (NQ) slid roughly 1.5% Friday, closing just above the September and October lows. With NQ poised to complete its Bear Flag consolidation (of the past month on the weekly chart) in the next week or so, NQ has all but made a lower 2023 high versus the 2021 high…
USDCAD Reclaims Key 1.35 Level
The USDCAD surged more than 150 pips Friday from the day’s low (just above the September low) to the intraday high and close. The USDCAD has bounced off an uptrend support that began in July (as seen on the weekly chart), closing last week above the psychologically key 1.35 whole figure level…
S&P500 (ES) Breaks Below Aug Low
The S&P500 (ES) edged lower with a daily Gravestone Friday, closing the week just above what is likely to become initial upchannel support (on the weekly chart). With the lower September low versus the August low, ES will all but form a lower September high versus the August high, with the July high likely to have been the high for 2023…
USDJPY Testing 2023 High, Nears Key 150 Level
The USDJPY edged higher Friday, closing around the September and 2023 high. With the USDJPY extending last week its massive rally since January to above its 76.4% Fib retrace of the October to January slide, a test of the October high is now likely by year end…
S&P500 (ES) Retests 78.6% Fib Retrace of Jan22 High-Oct22 Low Slide
The S&P500 (ES) formed a daily Doji Friday after Thursday’s daily Hammer, trying to halt the slide from the September high. Any break below ascending wedge support (on the weekly chart) sometime next week dramatically increases the likelihood of a lower September low versus the August low, and that the July high was the high for 2023…
VIX (VX) Testing Weekly Chart Descending Wedge Support
Register/Login to freely access technical analysis on the market described in the headline above. Today’s Top 3 Trades includes technical analysis on: Indices (VIX | S&P500) + Today’s Top Trade (Gold) Join the world’s largest asset manager and 3 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM asRead More
S&P500 (ES) Testing 2023 High Ahead of NFP
The S&P500 (ES) is edging higher just shy of Monday’s fresh 2023 high and triangle resistance (on the weekly chart). Any selloff following today’s highly anticipated US Non-Farm Payrolls (NFP) at 830am EST will dramatically increase odds of a break going into next week below upchannel support (on the 4hr chart)…