Many of the stocks and indices I follow are sitting right at resistance, as is ES this morning.AAPL has reached our target at the top of its falling channel……DB is bumping up against the TL from Jan 2018… …and BA is within striking distance of the channel top at which it failed yesterday.With VIX having … continue reading →
A reminder: our current membership promotion — which slashes the price of a quarterly subscription from $399 to only $299 — is slated to expire tomorrow, July 23. For details and to sign up now, CLICK HERE. * * * BA has just about reached our channel top target from Jul 3. From Algos to … continue reading →
Thanks to everyone who attended our Boston CFA Society presentation on chart patterns and technical analysis. As promised, here are the slides used in the presentation. Please contact me with any questions. … continue reading →
Conditions continue to look good for our current analog officially kicking off in 7 sessions. VIX reversed (again) at the fan line off the May 9 highs and backtested an alternate channel bottom — nudging ES higher after a fairly ugly Wednesday.Oil and gas are closing in on our next downside targets — confounding the … continue reading →
First, a confession. In 2004 I sat next to a guy at a Sundance Film Fesitval screening who was very excited about his company that would someday be able to play movies on your computer or even your cell phone. “Why won’t this guy shut up?” I asked myself as I scanned the theater for … continue reading →
The conditions remain constructive for our analog. Both RB and CL have broken down and USDJPY is conspicuously not coming to the rescue. In fact, the only thing keeping SPX on the rise is VIX’s repeated threats to make new lows — threats that, so far, have been hollow. continued for members… … continue reading →
We’ve only done five analogs over the years. One worked out spectacularly three were fairly accurate, and one just plain fizzled. Ideally, an analog provides exceptionally accurate forecasts of a very significant move. I think this could be one of those. For more on analogs, click here. continued for members… … continue reading →
In May 2014 many of us were shocked by a report that Ben Bernanke, who had recently departed the Fed, told a group of wealthy investors that he did “not expect the federal funds rate…to rise back to its long-term average of around 4%” in his lifetime. I remember feeling Bernanke’s statement represented both extraordinary … continue reading →
It’s great sport to criticize the Fed for what seem like bone-headed moves. Yesterday wasn’t one of them. What Powell knew and rest of us had guessed was that June CPI was headed significantly lower and would continue to widen its divergence with core CPI.While the futures were ramping higher thanks to Powell’s dovish prepared … continue reading →
Powell’s prepared remarks, released in advance of his testimony before the House Financial Services Committee, confirmed the FOMC is likely to deliver a 25 bps rate cut at the end of the month. This is what almost everybody demanded expected, so the algos have found their happy place. S&P futures, which lagged all night, are … continue reading →