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Wednesday, September 4, 2019

Market Update 9/4/2019 - Important Announcement RE: The Public Charts Area

Important Announcement RE: The Public Charts

Hope you all had a good Labor Day!

I started several big projects over the weekend, and want to get them done before the weather changes, so I don't expect to have much time for real time charting during normal trading hours.

To help lighten my workload: I've removed several sector charts from the Public Charts Area, Including the Oil trade.

I've decided to leave the short term 5 min $SPX chart up for now at least, and I'll be updating that chart before the opening bell, and setting it to auto-refresh when I can, but that feature doesn't always work.

$SPX 5 min - Switched out the 1 min chart for this one this morning

You can see the $SPX just took out my red line (target), as well as resistance on the 30 min chart, so we continue to trade in a range, and until the market finds some direction, I'm not going to be missing a thing.  

Same thing on the 30 min chart view:

I can't really predict what happens once this consolidation completes, but I wouldn't expect much until the, The Fed reports, just ahead of OPEX. My best guess is we trade back to the bottom of the range, and maybe a suckers rally going into OPEX.

Maybe I can find time to do some more extensive charting in a week or 2, and provide a weekly update, and see where we are....

Until then, take care, and good luck!

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