ORIGINAL POST: 9:25 EST We remain short from SPX 1447 on Dec 18. The dollar is either finding support at a channel midline or about to find it at the bottom of a channel, depending on which channel ultimately holds. DX RSI shows great channel support either way. The EURUSD is still hanging in there, … continue reading →
Yearly Archives: 2012
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 dollar broke down from its steepest channel (in white) as I suspected, settling into a consolidation that might flesh out the larger purple channel today or tomorrow before breaking out of the yellow channel it’s been in since Nov 12. My target remains the .618 at 79.319 on the purple grid. I say “might” … continue reading →
I hope everyone had a lovely Christmas. Intra-day posts will be open to the public this week, my little gift to those considering a pebblewriter membership. Sorry, but our forecast will still be available to members only. As announced on Monday, subscription prices will increase on January 1. In keeping with our practice of paying … continue reading →
Strange things have happened around holidays this past year. Though this is a short day (equity markets close at 1pm EST) it’s best to remain vigilant. Equity futures have recovered most of their overnight losses, and TPTB would love nothing more than to undo the gains we’ve racked up (since shorting on the 18th) while … 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 →
The Fiscal Cliff Apparently, Congress has secretly agreed on one key measure. As their Motto of the Month, they adopted writer Douglas Adams’ pithy line: “I love deadlines. I love the whooshing noise they make as they go by.“ I don’t have a clue how the fiscal cliff measure will be resolved. It’s not looking … continue reading →
A quick plug: for anyone doing any last minute holiday shopping, I recently found a wonderful online shop that carries very cool shabby chic, french country and vintage decorative goodies. After looking everywhere, I snagged some vintage champagne flutes at a very reasonable price. I also understand the proprietor lost a loved one in the … continue reading →
SPX is only about 2 points from completing a Gartley Pattern at the .786 retracement of the move down from 1438 to 1411 — smack in the middle of the upside target range I charted yesterday. There is still potential to the .886 at 1436, so set stops accordingly. The EURUSD and DX remain positioned … continue reading →
UPDATED: Dec 18, 2012 The two most dominant features of the pair are the falling wedge (purple) since 2000 and the falling white channel since 2001. USDJPYbroke out of the wedge in February, retracing a Fib .886 of the Apr – Oct 2011 plunge to complete a Bat Pattern. Since then, the pair back-tested the … continue reading →