The wait is almost over. Two weeks ago, I came across an analog that pointed to tomorrow, Jul 30 as a pivotal point in equities. Analogs don’t always play out of course. But, this one is important enough that it will tell us much about what to expect from equities, bonds, currencies and commodities — … continue reading →
In the opening scene of the wonderfully silly Scary Movie, the sultry heroine comes face to face with the masked killer. She glances down at an array of conveniently placed objects: a gun, two knives, a grenade and a banana. She ignores the weapons, of course, and grabs the banana. I think the Fed is … continue reading →
Draghi says he’s prepared to do even more (is there anything more than “whatever it takes?”) and the German 10Y continues to slump further into negative territory. What did it accomplish, you might wonder? While obviously not changing the prognosis that the ECB will soon be scooping up everything not nailed down, it did manage … continue reading →
The good news for bulls is that ES/SPX broke through the latest straw man trend lines yesterday and have (more or less) backtested them. The bad news is that the Dow remains stuck below double overhead resistance and several Dow components feature charts that are anything but bullish.continued for members… … continue reading →
Many of the stocks and indices I follow are sitting right at resistance, as is ES this morning.AAPL has reached our target at the top of its falling channel……DB is bumping up against the TL from Jan 2018… …and BA is within striking distance of the channel top at which it failed yesterday.With VIX having … continue reading →
A reminder: our current membership promotion — which slashes the price of a quarterly subscription from $399 to only $299 — is slated to expire tomorrow, July 23. For details and to sign up now, CLICK HERE. * * * BA has just about reached our channel top target from Jul 3. From Algos to … continue reading →
Thanks to everyone who attended our Boston CFA Society presentation on chart patterns and technical analysis. As promised, here are the slides used in the presentation. Please contact me with any questions. … continue reading →
Conditions continue to look good for our current analog officially kicking off in 7 sessions. VIX reversed (again) at the fan line off the May 9 highs and backtested an alternate channel bottom — nudging ES higher after a fairly ugly Wednesday.Oil and gas are closing in on our next downside targets — confounding the … continue reading →
First, a confession. In 2004 I sat next to a guy at a Sundance Film Fesitval screening who was very excited about his company that would someday be able to play movies on your computer or even your cell phone. “Why won’t this guy shut up?” I asked myself as I scanned the theater for … continue reading →
The conditions remain constructive for our analog. Both RB and CL have broken down and USDJPY is conspicuously not coming to the rescue. In fact, the only thing keeping SPX on the rise is VIX’s repeated threats to make new lows — threats that, so far, have been hollow. continued for members… … continue reading →