An Oldie but a Goodie

I turned on CNBC this morning just to see what the “experts” are saying. Basically, they’re all over the map – trying to explain how the fundamentals indicate various outcomes. Thankfully, our charts offer a clear path to SPX’s next downside objective: the 2.24 extension at 2703.62.  Yes, again.But, if our yield curve model works … continue reading →

Same Old, Same Old

Baffled by soaring futures in the wake of an election which ushered in gridlock?  Don’t be.  As we witnessed after Brexit and the US election in 2016, algos were easily driven higher by VIX and USDJPY.  Last night was no exception. USDJPY, which had dropped below its latest straw man TL, suddenly reversed and spiked … continue reading →

Charts I’m Watching: Nov 5, 2018

Futures are back to flat, having bounced a bit on the Iran sanction news as it provided a modest (so far) bounce for oil and gas prices.The market has a wait and see feel to it this morning, with AAPL breaking down further……but, the algos all but ignoring it, focusing instead on dollar strength (TNX … continue reading →