SPX: The View from 30,000 Feet

Our charts have grown fairly “busy” lately, what with harmonic patterns, chart patterns, fan lines, channels, etc.  I find it helpful every now and then to take a step back and examine those elements that have had the biggest impact in recent years — and are likely to continue doing so. In my opinion, the … continue reading →

Dueling Bancos

We pick up this morning where we left off last night…the Banco de España and the Banco Central Europeo duking it out through their respective mouthpieces in the mainstream media.  It reminds me of another famous dueling scene from one of America’s greatest movies (obligatory clip below.) From the WSJ, reports that the EU is  advocating a … continue reading →

The Spanish Fly in the Ointment

Today was one of those kumbayah days when even lousy housing data, consumer confidence and Dallas Fed data couldn’t depress equity prices.  The market spent all day reinforcing my faith in our forecast.  Ah, those were the hours… As everyone knows, the euro zone whack-a-mole game has been focused on Spain lately.  So, the print-our-way-to-happiness … continue reading →

It Won’t be Long

ORIGINAL POST:  10:00 These are the toughest times in investing — calling a top or bottom, then watching an opening that threatens to undo it. I mentioned in yesterday’s first post I was expecting a choppy next few days.  Talk about understatements… After scalping a quick 36 points (going long Friday at 1292, selling at … continue reading →