Topping Pattern?

UPDATE:  3:45 PM Despite all the drama, EUR still looking like the bottom’s about to fall out.  All the players are hedging, talking about needing a few more days past Sunday (the most recent deadline for the miracle cure.) Note the RSI trendline, still within the channel we’ve been watching.  And, of course, we’re up … continue reading →

Ignore the Headlines

Yesterday, it was The Guardian’s phoney “Euro Zone is saved” leak.  Today, it’s CNBC’s  “Housing Starts Jump 15%.” Sure enough, when you dig into the story, you see that it was annualized multi-family starts that jumped (53%).  Single-family slumped — to a measly 1.7% annual increase.  Of course, that won’t stop the requisite bump in … continue reading →