Chart Patterns and You

ORIGINAL POST:  9:15 AM Last night, the dollar tagged the .786 Fib retracement of its decline from Apr 4.  It subsequently sold off almost to the .618 but, so far, is hanging in a rising wedge. The EURUSD re-tested the .500 Fib of its rise from Apr 3, and snapped back into its falling wedge … continue reading →

Update on Everything: Jan 11, 2013

  Around the horn with major indices and currencies…  Like SPX, most are at a threshold where they must either break down or break out (I think “break down,” but we’ll know soon enough.) Coming up: VIX, RUT, COMP, NYA, NDX, DJIA, FTSE, SPX, DX, EURUSD, USDJPY, AUDUSD, CL, GC, SI.  And, yes, I’m happy … continue reading →

Down the Rabbit Hole

“In another moment down went Alice after it, never once considering how in the world she was to get out again.” ― Lewis Carroll, Alice’s Adventures in Wonderland Not quite four months ago, the Fed guaranteed lower interest rates and higher stock prices forever.  At least that was the mainstream media’s take on QE3.  The … continue reading →

Charts I’m Watching: March 22, 2012

ORIGINAL POST: We’re finally seeing reactions on the harmonic pattern completions we’ve been watching for what seems like forever [see: Everything’s Coming Up Crabs.]RUT completed a Crab Pattern (in red) within the last leg of a Bat Pattern (purple) off the 2011 highs.  It never has cleared the TL off the May and July highs.  … continue reading →