The Waiting Game: July 31, 2012

ORIGINAL POST:  11:30 AM SPX might be tracing out either a flag or pennant pattern on the 15-min chart.  While either could portend higher prices (2/3 of the time), a flag would mean lower prices first — probably down into the mid 1370s.   At first blush, the market seems to be respecting the last … continue reading →

SPX: The View from 30,000 Feet

Our charts have grown fairly “busy” lately, what with harmonic patterns, chart patterns, fan lines, channels, etc.  I find it helpful every now and then to take a step back and examine those elements that have had the biggest impact in recent years — and are likely to continue doing so. In my opinion, the … continue reading →