The Recovery That Algos Built

We all know about the strong earnings, stimulative tax cuts, low unemployment, etc. which have driven this recovery.  These are the headlines that scream for our attention every day. Here’s a quick counterpoint: the algo-driven aspect of the recovery. For those not familiar with Fibonacci ratios, here’s a quick primer. Suffice it to say that SPX has paid … continue reading →

Engineering AAPL’s Breakout

The big news yesterday was AAPL’s market cap reaching $1 trillion.  For chartists, however, the big story was the breakout shown below. It’s hard to overstate the importance of this move.  Just a few days ago, the stock had broken below a trend line dating back to April 27 and was retreating from its 2.24 … continue reading →