How Not to Manipulate Stock Prices

Sometimes you just can’t catch a break.  TSLA shares rose from 22 in 2012 to 387 in 2017 — helping drive Musk’s net worth to well over $20 billion.  But, the shares have since formed a triple top, failing to top 390 and coming perilously close to breaking down. This isn’t the first time Musk … continue reading →

The Waiting Game

The biggest headlines of the year yesterday, and the S&P 500 gave up one point. And, as the plot thickens this morning, futures are virtually flat — propped up by pure algo action as VIX continues to slump and USDJPY continues to bounce off our downside target. With Jackson Hole coming up, there is much … continue reading →

Currency Complications

USDJPY reached our target at the SMA100/SMA200 overnight, at least temporarily bringing the pair back below the top of the falling white channel from which it broke out on July 10.  Readers will recall that breakout was instrumental in helping SPX break above its faux IH&S neckline 66 points ago. A USDJPY rebound here is … continue reading →

Charts I’m Watching: Aug 20, 2018

Futures are hanging on to a 4-pt gain, primarily on a continuing decline in VIX.  With Jackson Hole coming up, we could see more volatility — particularly if Fed speakers back off their hiking schedule. Speaking of backing off…TSLA is back down to its horizontal and trend line support.  As readers will recall, this is a … continue reading →