Opinions posted by PattrnProfts

1 hour ago (By PattrnProfts)

All Rip, No Dip

I'm going to throw a few charts out there, but I have very little in the way of commentary tonight. The /ES continues to climb the channel with prices bouncing between the 50% and 75% lines...The S&P has now tagged the most recent target of 1150 and m...

Mar 07 at 7:36PM (EST) (By PattrnProfts)

Pattern Watch

This channel on the /ES futures has contained all price action dating back to early February. This 60 day, 60 minute chart shows more room for upside before testing the upper channel line...Seems like a test of the prior highs for the S&P is inevitabl...

Mar 03 at 7:31PM (EST) (By PattrnProfts)

The Endless Climb

I continue to see prices struggle to retake the lower /ES futures channel line and I still expect a sharp break lower from here. Perhaps, the most important thing to takeaway from the following chart is the volume pattern. Those red candles dwarf the blac...

Mar 01 at 8:05PM (EST) (By PattrnProfts)

What Gives?!

Prices were able to complete a right shoulder on the S&P 60 minute chart today, but the 1115 level remained a difficult hurdle after several tests throughout the session. A confirmation here targets nearly 1170...The Nasdaq paused right where we'd exp...

Feb 28 at 8:37PM (EST) (By PattrnProfts)

Holding Short

Very little has changed in the short term charts since my last update. While I still don't have a confirmed signal to sell short, I'm out in front with a few inverse ETF holdings. I plan on adding to these positions once prices break below the 10 dma and ...

Feb 24 at 8:09PM (EST) (By PattrnProfts)

The Short Report

While there's little to point to currently in the short term charts that indicate an imminent market decline...I'm giving more credit to the bigger picture here and I'm fully short going into tomorrow's session (currently only 25% invested, but looking to...

Feb 23 at 8:35AM (EST) (By PattrnProfts)

Consolidation Continues

The last couple of sessions appear to be a healthy consolidation of recent gains, but there's reason to be cautious in the short term. On the S&P, the level I'll be watching closely for support in today's session is 1103. A hard break below there coul...

Feb 20 at 10:06AM (EST) (By PattrnProfts)

When Trends Align...

I have yet to find a more powerful indicator than trend alignment when it comes to timing explosive moves in either direction. Just as it became increasingly difficult to profit from the long side after Jan. 20th, it has now become increasingly difficult ...

Feb 18 at 9:34AM (EST) (By PattrnProfts)

Brief Update

Looking at the short term chart of the S&P, I can see two distinct scenarios playing out over the next few sessions. With a push above 1103, I don't see much resistance up until 1115, followed by the 1130 level. Should the market decide to pull back a...

Feb 09 at 8:58PM (EST) (By PattrnProfts)

It's Getting Interesting

Looking at the /ES channel, prices tagged the upper channel line today before fading late in the session. If we're going to see higher prices in the near future, a breakout from this channel would be a good start...As you'll see in the chart below, the S&...