H&S Alert

Bears have been amply rewarded by the large H&S; pattern that completed in early August.  The new ones now shaping up will make that one look puny by comparison. Pure speculation, but if the H&S; and Butterfly patterns play out on the daily chart [The Big Picture] we would complete a larger H&S; pattern.  The … continue reading →

The Big Picture

I took the day off from tree-watching to develop a better view of the forest.  Here’s what I came up with. First, recall that harmonic patterns are what brought us to this point in time.  They occur on a regular basis, and are believed to play out successfully about 70% of the time.  Here’s one … continue reading →

Intra-day: August 31, 2011

UPDATE:  1:00 PM I’ve seen some huge manipulations of economic data before, but the July factory orders numbers from Census take the cake. Total for all manufactures goods fell almost 7.5%, from $472B to $437B.  This is huge news.   So, why wasn’t that the headline, instead of… Because, through the magical seasonal adjustment process, … continue reading →