AAPL soars, market soars. AAPL plunges, market yawns. Sure, makes sense to me. One can only guess as to how much effort went into propping up the markets this morning in the wake of the earnings miss. Have you ever heard so many laudatory comments about the stock everyone loved to hate only months ago: … continue reading →
Tag Archives: crab
First, a quick overview… The dollar got clobbered overnight, knocking it temporarily out of the white channel that’s guided it since Jan 11. But, interestingly, its RSI channel is doing just fine, thank you. The EURUSD continues to levitate, but still hasn’t broken the last important interim top put in on Feb 24. It is … continue reading →
ORIGINAL POST: The dollar is making a stand at the upper end of the target range I charted Friday, but hasn’t yet broken out of the steep falling channel. While there was a turn at the .618 Fib that would justify a .786 completion (a Gartley), the more obvious Point B was at the .382. … continue reading →
What a disaster for Boehner & Co. last night. Did we really need another warring faction? What are we — Greece!? Wait, don’t answer that! The markets will not take kindly to this additional complication. Today’s theme song: Maureen McGovern’s song from the 1972 Poseidon Adventure. Don’t laugh, it won an Academy Award! What sold … continue reading →
We got the bounce we talked about Friday afternoon, coming at the .618 of the last move up (the Crab completed Wednesday, in red) as well as the last wave down (in white, below.) We discussed not playing this bounce until SPX has cleared 1420, which it did this morning. Even so, I would be … continue reading →
April 11 seems like a long time ago. It was then that I laid out my forecast for the top we’ve formed [see: New Analog I’m Watching.] As regular readers know, it was based on a combination of channels, harmonic patterns in price and time, a huge rising wedge, and a promising-looking analog. I made … continue reading →
“It was an expression used by small recon units and sniper teams in hostile terrain in Vietnam. They would tell one another to stay groovy when the danger level was so insanely high they popped amphetamines to stay awake and ready to rock twenty-four/ seven, because anything less would get them all killed. Stay groovy; … continue reading →
Good morning, all. The markets should get no help from across the pond today. Though Moodys’ downgrade of France was not exactly news, it should serve to remind investors of the structural issues facing the euro-mess. The EURUSD completed a well-formed Gartley Pattern early this morning, reacting off the .786 of the latest move down. … continue reading →
The rising wedge we were watching Friday broke overnight and has carried into this morning’s session, with an initial drop to 1452.06. This completed a Bat Pattern at the .886 retracement of the 1474 to 1449 drop (also a small Crab Pattern.) We should thus get a sizable bounce from 1452 — probably at least … continue reading →
ORIGINAL POST: 10:00 The logjam finally broke. We slightly exceeded yesterday’s 1464.50 target — topping out at 1465.15. This morning’s action reached the downside target “A” we established on Monday [see: The Hangover.] We got a bounce at the bottom of the red channel — which should reach the 1454-1455 area — the recently broken … continue reading →