Thursday, June 19, 2014

Morning Charts 06/19/14 SPX /es

Just some charts today.

Every chart is at extremes and at major reversal points.  


RUT Daily - Broken down and backtesting busted major long term support at the top of a right shoulder.


QQQ Daily - Double top backtest of broken long term support.



DOW Daily - Mega rising wedge nearing long term resistance. This is the only chart with any room left technically.


SPX Daily - Overthrowing the overthrow of long term resistance with completed rising wedge with price at ATH at upper wedge resistance.


VIX Daily - No pattern other than this time sequence. Seems they ramp it like clockwork every four months or so. They are about a week overdue for their quarterly visitor. I'm eyeballing some long action here.


Minis /es 4hr - The only thing that could make the triple wedge and channel overthrow of an overthrow in a sensationally overbought market better? A double top at long term upper wedge resistance.


Oil /cl - ya think that ascending triangle and double top target that I've been showing for a while has a chance? I'd say if $111 goes down, $147 is a no brainer and prolly in a hurry. This chart really points to an 'event' in less than a year if not sooner more than any other. Think it will come from the middle east?


30 yr UST - I don't know, you tell me what's about to happen to interest rates?





More to come below.

Have a good day.

GL and GB!

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