FOMC: Gee, Thanks

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 →

Which One to Believe?

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 →

Resistance: Futile?

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 →

Almost There

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 →