I know, strange title. I was going to go with “A Little Self-Doubt Can Knock the Snot Out of Your Portfolio,” but that seemed a bit excessive. Just came across this chart from June 23 [Deja Vu, All Over Again]. I had recently discovered fan lines, and was pretty excited about the prospects. Combining fan … continue reading →
Category Archives: Charts I’m Watching
LATER Okay, so post-S&P; downgrade… ignore everything I wrote today. It doesn’t matter anymore. I think. Was this priced into the market? Question du jour, possibly l’année. My gut says it was. I think most institutions that are required to divest themselves of anything less than AAA will do so over time, if at all. … continue reading →
I ran into a friend at the local coffee shop. He knows I do a little trading and asked me that very question about an hour ago. Where do you start? First things first. If you made a ridiculous amount of money this past month because you believed any of my posts since May 31 … continue reading →
Gold had a couple of pretty strong reversals yesterday and today. Recall we saw a rising wedge and bearish butterfly pattern completed on the daily chart that indicated GC might have run out of steam [original post here]. Since then, it blew through the proposed D point of 1646.80 on the way to 1684.90. But, … continue reading →
Back in May, I posted a study [see: Sure, It Works in Practice] that found a 87-day cycle that did a pretty good job of predicting significant downturns. I haven’t posted the chart in a while, so here it is again for anyone who’s been watching. The predicted 30-trade day low of 1197 happens to … continue reading →
UPDATE: 2:15 PM EDT Something’s gotta give… We’re in a falling wedge within an expanding wedge, with loads of divergence and retesting the earlier lows. UPDATE: 12:15 AM EDT Market seems to have found support here. Only influence I can see is the Nov 5 2010 high of 1227. We’ve made a new bullish falling … continue reading →
BAC reached the bottom of its rising wedge this morning. It tagged 9.32, even better than the 9.40 I was looking for. I sold my remaining August 11 puts at 1.65 for an 83% gain in 9 days. At 8.89, it would complete a bullish crab pattern that would also coincide with the bottom of … continue reading →
ADDENDUM: 10:35 PM EDT: Thanks to ewtnewbie for this question on Daneric’s excellent EW blog: Pebble, love your stuff. I’m glad you cleaned up your Fib chart–it was getting hard to read. I haven’t redrawn mine yet, but are you thinking today as ‘a’ up, with ‘b’ and ‘c’ to come to get to 1270ish–or … continue reading →
I don’t really follow gold, per se. But, seeing that it made a new high today (1646.80), it seems like a good time to take a look at the technical picture. Gold has been in a rising wedge for over three years — a long time, in technical analysis-land. A couple of other things can … continue reading →
UPDATE: 1:00 AM EDT Posting this pretty late at night, only because I needed a long walk on the beach after a day like this. Don’t know about you, but my head’s still spinning. We got exactly the move I was looking for; just didn’t expect it all at once like that. The goal was … continue reading →