spx 60 minute chart

US Stock Market: Anatomy of a Correction

Over the last week we (NFTRH) have used market sentiment indicators and index charts to gauge the prospects of finding a high on the post-September relief ‘bounce’ rally. During August and September market sentiment had become brutally over bearish and this was very dangerous from the bears’ perspective.  We set upside bounce targets for the SPX at 2020, 2040, 2060 and 2100.  The first three … Continue reading US Stock Market: Anatomy of a Correction

alice, nftrh

NFTRH; SPX 60 min. Chart Test and Breakdown as Expected, Daily Chart Support Parameters

A quick view of what is happening with our short-term 60 min. chart.  SPX bounced to test the broken moving averages and failed in a classic manner. Now comes the test of support by the daily chart that we also reviewed.  We have been expecting the gap to fill and support to be tested around 2060.  We are there.  Either support is going to hold … Continue reading NFTRH; SPX 60 min. Chart Test and Breakdown as Expected, Daily Chart Support Parameters