Tuesday, January 29, 2019

Morning Charts 01/29/2019 SPX

As I like to say, the markets are nothing more than a distraction. Then again, what is real? ZH reading typical gloom and doom as the truth is there but no one really cares. Good vs evil. Let's just hope there are more of us with some sort of sense left in our heads than it appears. If not, the showdown is gonna be .... biblical.

On to the lie -

SPX 60m - OK, Island gap in yellow. Then watch to see if the blue channel up forms out of this broken down rising blue wedge. As far as patterns go this fits the IHnS (which can be seen very clearly on this chart) scenario best. STB's not quite into all this bullishness quite yet. Daily macd hist falling nailed yesterday and may set the trend sideways to down for a few days.

More to come below.

Have a good day.

GL and GB!

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