Next Stop 1462? April 27, 2012

Yesterday we explored the alternate path in detail, noting that one of the two RSI trend lines we’ve been watching had broken, and the second was coming into play. There is the possibility that the downward sloping red, dashed TL will catch it on the way up, but the yellow TL just broken was a … continue reading →

On the Verge: April 26, 2012

UPDATE:  5:35 PM S&P cuts Spain two notches, from A to BBB+, based on contracting economy…cites declining disposable income, private sector deleveraging, front-loaded fiscal consolidation and an uncertain outlook for external demand in many of Spain’s key trading partners.   UPDATE:  3:25 PM Here’s a close up of the alternative path, which looks stronger with … continue reading →

Analog Update: April 24, 2012

The analog we’ve been watching since April 9 is playing out nicely so far.  We got the original bounce at 1357 as forecast, followed by a rise to the middle of our 1380-1400 target range.  The H&S pattern we expected did, in fact, set up and complete yesterday. Now, we’re back testing the little channel … continue reading →