A friend just tipped me to the fact that Elliott Wave International pronounced yesterday that 2011 and 2007 exhibit a “similar topping pattern.” OH!  MY!  GOSH! I only wish I had had this very valuable information when I posted back on May 31.  Oh, wait, I did.  When I made the exact same observation.  But … continue reading →

Dangerous Waters

UPDATE:  9:30 AM PDT Despite generally better than expected economic and earnings news this morning, we formed most of a Head and Shoulders pattern in the futures prior to the cash market opening.  I decided to wait and see how it played out before scaling back my shorts.  We have since completed it, and a … continue reading →

Which Way the Dollar?

I’ve been watching the dollar’s patterns for months, and yesterday we broke out of a falling wedge that’s been in the works for ages. We’ve made many attempts before, but back in late April we started forming a rising channel that’s been guiding us directly to this spot. With the weakness in the Euro and … continue reading →

The Deathly Hallows

In Harry Potter, these are the three magical objects which make their owner a master of death. Tonight, we’ll look at three technical indicators that, while they may not grant immortality, will hopefully guide us safely through a dangerous market. (1)  Our harmonics patterns are working out exactly as expected.  As we forecast in Patterns, … continue reading →

Intra-day: July 11, 2011

ORIGINAL POST:  8:35AM PDT Watching the bearish Bat Pattern unfold, with Fib targets based on the DA measurement: .618   — 1295 1.272 — 1231 1.618 — 1197                                           Bearish Bat Pattern And, for those who have been following my 2011 = 2007 posts, today is putting in a bid as a candidate … continue reading →

She’s Come Undone

While backtesting the trend line from the Mar ’09 lows, the market did a little throw-over last week — exceeding the resistance by 14 points on Thursday, but giving it all back on Friday.  As we discussed in Confidence Fairies and Snowballs, this throw-over was a function of the government’s attempt to intervene in the … continue reading →