“It was an expression used by small recon units and sniper teams in hostile terrain in Vietnam. They would tell one another to stay groovy when the danger level was so insanely high they popped amphetamines to stay awake and ready to rock twenty-four/ seven, because anything less would get them all killed. Stay groovy; … continue reading →
Monthly Archives: November 2012
SPX seems destined to go up and tag the .786 Fib at 1414.81. I’m closing my shorts on the opening and will possibly take another crack at shorting there if SPX shows any weakness. Apparently yesterday’s dip is all the B-wave we’re going to get. Swing traders will do well to remain long, but be … continue reading →
It’s pouring down rain on the normally sunny central California coast. Even on days like this, it’s heaven on earth — unless you’re a line man for PG&E. The high winds that accompany toad chokers around here are notorious for downing power and telephone lines — as just happened at my house. I am now … continue reading →
When we last examined AAPL [see: Harmonics are Your Friend] it had fallen 167 points (23.6%) in less than two months and appeared to be nearing an interim bottom — meaning it was due for a bounce on its way to lower prices. It stabilized for a few days, but joined in when the overall … continue reading →
MEMBERSHIP NOTE: I have set up a Twitter Account (@pebblewriter). I will endeavor to tweet important intra-day alerts within a few minutes of posting them in these pages. I believe you can arrange to be notified of any updates by text or email. Alerts will contain a link that directs followers to the pertinent post. I’m … continue reading →
ORIGINAL POST 9:25 AM SPX seems intent on reaching the next Fib level — the .618 of the 1433-1343 plunge at 1398.99 — before embarking on a significant B wave lower. But, the top of the new purple channel that’s been guiding us lower since mid-September is up above at 1401-1403, so there’s every chance … continue reading →
Thanks for your patience these past few days. Fortunately, the markets have behaved largely as expected — giving me the time I needed to create a forecast I think is pretty solid. Here’s the latest version. Every time I revisit it, it gets modified slightly. But, this is the closest I’ve come to a scenario … continue reading →
We’ve been following a forecast that combines a proven analog, several major price channels and some important harmonic patterns. One interesting aspect we haven’t looked at for a while are the RSI channels. Like price movements, I’ve found that the market’s RSI tends to move in channels, which makes it somewhat predictable. Without getting into … continue reading →
Good morning, all. The markets should get no help from across the pond today. Though Moodys’ downgrade of France was not exactly news, it should serve to remind investors of the structural issues facing the euro-mess. The EURUSD completed a well-formed Gartley Pattern early this morning, reacting off the .786 of the latest move down. … continue reading →
ORIGINAL POST: 9:15 AM EST Friday we reversed right on target, tagging our trio of tightly-packed downside targets (1344-1348) before heading up. This morning, we’re seeing the continuation of the next leg of our forecast. The dollar, which broke down from its rising wedge earlier in the week, came back and tagged its apex before … continue reading →