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Welcome and thank you for visiting!

The charts, graphs and comments in my Trading Blog represent my technical analysis and observations of a variety of world markets...
* Major World Market Indices * Futures Markets * U.S. Sectors and ETFs * Commodities * U.S. Bonds * Forex

N.B.
* The content in my articles is time-sensitive. Each one shows the date and time (New York ET) that I publish them. By the time you read them, market conditions may be quite different than that which is described in my posts, and upon which my analyses are based at that time.
* My posts are also re-published by several other websites and I have no control as to when their editors do so, or for the accuracy in their editing and reproduction of my content.
* In answer to this often-asked question, please be advised that I do not post articles from other writers on my site.
* From time to time, I will add updated market information and charts to some of my articles, so it's worth checking back here occasionally for the latest analyses.

DISCLAIMER: All the information contained within my posts are my opinions only and none of it may be construed as financial or trading advice...please read my full Disclaimer at this link.

Dots

* If the dots don't connect, gather more dots until they do...or, just follow the $$$...

Paris Cafe

Paris Cafe

ECONOMIC EVENTS

 UPCOMING (MAJOR) U.S. ECONOMIC EVENTS...

* Wed. May 25 @ 2:00 pm ET - FOMC Meeting Minutes
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* Fri. June 3 @ 8:30 am ET - Employment Data
* Wed. June 15 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. July 27 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
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* Wed. Nov. 2 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference
* Wed. Dec. 14 @ 2:00 pm ET - FOMC Rate Announcement + Forecasts and @ 2:30 pm ET - Fed Chair Press Conference

*** CLICK HERE for link to Economic Calendars for all upcoming events.

Monday, February 21, 2022

S&P 500 Futures Index Approaching Bearish Head & Shoulders Neckline

* See UPDATE below...

My post of January 31 contained Pivot Point support and resistance levels/targets for February for the S&P 500 Index (SPX).

The following weekly chart of the S&P 500 Futures Index (ES) shows that price is in the midst of forming a bearish Head and Shoulders pattern.

The sloping neckline on this formation sits around 4200, which is just below February's SPX S1 support level.

Should price break below that level, the next levels of support are around 3900 and 3600, respectively...just below SPX S2 and S3.

The Balance of Power is still held by the sellers...and will continue if price breaks and holds below 4200.

If not, price will continue its volatile, directionless whipsaw swings in both directions within this typical topping pattern.

* UPDATE February 23 (11:00 pm ET)...

WAR: Russian President Vladimir Putin has declared war on and attacked Ukraine.

Fox News Pentagon correspondent Jennifer Griffin just reported that,"It's the beginning of a very serious full-scale military invasion of Ukraine, according to a senior U.S. administration official."

Markets around the world are plunging.

Follow ZeroHedge on Twitter @zerohedge for live commentary.

As at 11:00 pm ET, the S&P 500 Futures Index (ES) has sliced through the Head & Shoulders neckline at 4200 and is trading well below, as shown on the following weekly chart.

The next major support level lies at 3900.

SO, NOW WHAT?

President Biden needs to immediately reverse his ban on the Keystone XL pipeline project from Canada and reverse restrictions on oil and gas drilling in the U.S., in order to unleash increased production and bring down spiking oil, gas and gasoline prices that triggered, and are contributing to, the inflation spike.

Inflation is out of control and stagflation is biting its heels...threatening national security! 

This is not a problem that can be solely rectified by the Federal Reserve

Biden's administration owns this and it is incumbent on President Biden to restore economic and national security stability to the United States...without further delay.

Wake up, America!

~~~~~~~

NOTHING
FALLS INTO
THE MOUTH
OF A
SLEEPING LION.
- Wise words with love from your ancestors.

~~~~~~~