Charts I’m Watching: Jan 29, 2013

Currencies are relatively quiet this morning in the midst of a slew of earnings and economic data. The dollar looks like it could hit our downside target of 79.50 – 79.59 from Jan 25 [see: Update on DX] this morning if the yellow channel holds, but note that its midline intersects with the bottom of … continue reading →

Now What?

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 →

Down the Rabbit Hole: Part 2

Alice laughed: “There’s no use trying,” she said; “one can’t believe impossible things.”   “I daresay you haven’t had much practice,” said the Queen. “When I was younger, I always did it for half an hour a day. Why, sometimes I’ve believed as many as six impossible things before breakfast.”                                     ― Lewis Carroll, Alice’s Adventures … continue reading →

Winding Down

Beware the Fee-scal Cliff Today’s post concludes a week of publicly available intra-day posts, my little gift to those considering a pebblewriter membership.  Sorry, but the forecast is for members only. As announced on Monday, subscription prices will increase on January 1.  In keeping with the concept of paying for performance, the annual rate will … continue reading →

The Morning After

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 →

Charts I’m Watching: Dec 11, 2012

Today marks the 6th session since we shorted at 1423 [see: Without a Net] in anticipation of a strong downdraft. The first wave down since then was a respectable 25 points, hitting just below our initial 1400 target.  Wave 2 has since rebounded a little over a Fibonacci 88.6%, but is definitely taking its time.  … continue reading →

Charts I’m Watching: Dec 10, 2012

The market continues to walk a tightrope between another leg up and a very significant tumble.  We’ve been here many times before in the past year, and it isn’t getting any more fun.  To recap… We remain short from 1423 on Dec 3 [see: Without a Net].  This was target A established in our Oct … continue reading →