Charts I’m Watching: May 11, 2015

Friday we had one of those algo-driven ramp jobs that carried over into the cash markets and just wouldn’t quit.2015-05-11-SPX 60 0620CL reached our immediate downside target and has bounced, though not cleanly.

2015-05-11-CL 60 0615While, USDJPY continues its sideways action, basically marking time as per our analog.

2015-05-11-USDJPY daily 0615We’ll review the analog this morning, taking a look at the big picture and likely turning points between now and then.  For our new members, it will be helpful to review the analog, its origin and implications, before continuing.  The original posts can be found here:

A New Analog

A New Analog: Part II.

And, for those wondering what the heck an analog is in the first place, check out:

Why Do Analogs Work?

It takes you through a spectacular analog I came across several years ago that accurately predicted the 21.6% July – October 2011 crash to the day and dollar — giving buy and hold types ample opportunity to protect their holdings and aggressive traders an opportunity to make a killing.

continued for members…


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