A Few Charts I'm Watching

It's Not Time To Make A Change

Despite being on the cutting edge with Tradrr and Order Flow trading, being an old timer, I still find myself looking at bar charts, wicks, resistance, support, ascending triangles, head-and-shoulders, open interest and more. I don’t trade much; I look for opportunities and patterns I’ve seen before. History repeats itself and most human reactions to event driven information remain pretty consistent.

S&P 500

It’s like the “Little Train” that could but for one reason or another this one just can’t. Some may call the resistance a “glass ceiling”. If that’s the correct moniker this one’s been more “bulletproof” than not. Wish, hope and pray are words that just don’t cut it for me. Until this market shows me reasons it can break through this resistance then hold the support line I’m not a believer.

Russell Index

So much for yesterday’s rally. What the market giveth it taketh away. Not of major size but that last candle’s wick is not in a bullish direction. Time will tell but the longer it takes the less likely a “surge” higher will occur and if it does, it will be short lived.

Sugar

Got the consolidation necessary to support a move higher. While technicals help in this type of pattern, the true effects of supply and demand, you know the reasons for commodity futures exchanges to really exist, will determine its future direction. The crop reports rule but more so the “eyes on the ground” are even better and they are inconclusive at best.

Carbon Emissions

Nice to see the downside test hold above the 92 level. Remember, participation in this industry segment remains voluntary. What do you think will happen to the price when it becomes a requirement in this “woke” world? It’s going to soar.

Hope you enjoyed this post. I’m just a young 68 years old; my Dad became a broker when I was 13. It’s time for me to ‘give back’ to all of you what’s in my head. It’s not always pretty but it’s based on history . . . and history, unchecked, repeats itself.

Everyone learns at their own pace. If you pick everything up the first time through, great but if not email me at dzimmer@substack.com so we can further help.

. . . just one of my favorites . . . rings true every time I listen to it . . . enjoy