The monthly trend is up and approaching monthly 20MA resistance at 1083, with support at 1029 and 945.
Weekly MA: support at 904, 935, 952, and 1011. Trendline support 950. Trendline Resistance 1066 and 1142.
Hourly ES 9 days
Green fan represents high of 8/24 (low of 8/18). The fib fans are holding for green. If green breaks then we use the next level down red fans. It is rather amazing that the lows consistently have bounced off of the RISING green fib line #3. But if that line is broken, a change is usually indicated.
This chart shows the fib fans from the beginning of the trend that started in March
Weekly SPX
Weekly trend is up. The SPX has a doji / spiinning top candle this week, which is not itself a reversal but a warning. The dojis need to be confirmed by a close beneath the low. Also, looking back at the weekly candles since September, notice that most of the spinning tops were pauses and the current trend continued. Only a few acted as a reversal.
Monthly SPX
The monthly trend is up and approaching monthly 20MA resistance at 1083, with support at 1029 and 945.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
Hourly ES 9 days
Green fan represents high of 8/24 (low of 8/18). The fib fans are holding for green. If green breaks then we use the next level down red fans. It is rather amazing that the lows consistently have bounced off of the RISING green fib line #3. But if that line is broken, a change is usually indicated.
This chart shows the fib fans from the beginning of the trend that started in March
Weekly SPX
Weekly trend is up. The SPX has a doji / spiinning top candle this week, which is not itself a reversal but a warning. The dojis need to be confirmed by a close beneath the low. Also, looking back at the weekly candles since September, notice that most of the spinning tops were pauses and the current trend continued. Only a few acted as a reversal.
Monthly SPX
The monthly trend is up and approaching monthly 20MA resistance at 1083, with support at 1029 and 945.
* ChristopherStockGuy is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. For details, see the post from SATURDAY, AUGUST 15, 2009 titled "Disclaimer".
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