Yesterday was a great example of the beauty of Harmonics. In conjunction with my RSI work and channel work, we were able to rack up 23 points on a day when the big picture is still fairly negative (remember Italy, the sequester, negative GDP, retailers’ horrid guidance?) By drawing important Fibonacci lines in the sand, … continue reading →
Monthly Archives: February 2013
ORIGINAL POST: 6:00 AM SPX ended yesterday just below our 1497 trigger point at the neckline. I know the bulls would love to blow through this level and negate the H&S, but I think they’ve really got their work cut out for them, especially given the political mess in Italy and the looming US sequester. … continue reading →
Some of you have heard about the new Fund I’ve been contemplating for some time [more info HERE.] While I’m excited about its prospects, I want to reassure members that pebblewriter.com will still be here, putting out the same kind of market analysis for which it’s become known. Sometime in the next few months, you … continue reading →
PLEASE NOTE THAT MEMBERSHIP RATES ARE SET TO INCREASE ON MARCH 4. * * * * * * * * A new day, a new bounce. As we discussed late yesterday, SPX has reached the bottom of the purple channel that’s guided it since 1343. So, naturally, we’ll get … continue reading →
FOR MEMBERS LOOKING FOR NEWS AND INFORMATION ON THE FUND CURRENTLY IN THE WORKS, CLICK HERE. ANNUAL MEMBERS WHO SUBSCRIBE TO THE FUND WILL BE ELIGIBLE FOR PRIORITY, PREFERENTIAL PRICING AND MEMBERSHIP FEE REBATES. PLEASE NOTE THAT MEMBERSHIP RATES ARE SET TO INCREASE ON MARCH 4. * * * * * * * * ORIGINAL … continue reading →
A couple of months ago, I mentioned I was looking into starting an investment fund. I’ve decided to move forward with it. There are several reasons, but the two main ones are: FORMAT: using a blog to convey market information that produces consistent results for the average armchair investor is difficult; and, BUSINESS MODEL: while … continue reading →
ORIGINAL POST: 09:25 AM UPDATE: 09:30 AM SPX overshot our initial target by just a couple of points yesterday, reaching the channel 25% line at 1497.29 before getting the bounce I expected at 1499/1500. Note that SPX completed a Bat Pattern down to the .886 in the process (larger white pattern.) The .618 Fib of … continue reading →
ORIGINAL POST: 9:50 AM SPX is off another 10 points so far, for a total of almost 30 since we went full short at 1530.50 on Feb 19. Look for a bounce at 1499/1500 – a psychologically important line in the sand, and also the .886 of the rise from 1495 to 1530. It also … continue reading →
As expected, equities have sold off since tagging the 1.618 Fib of the July 7 – Oct 4, 2011 sell off — dropping as low as 1522.19 this morning. While it’s gratifying to see a reversal at a major Fib like this, it won’t mean much until SPX can make some new lows. I’d be … continue reading →
The dollar index has cleared an important hurdle to higher prices. Note RSI has broken above and is back-testing the red channel on the daily chart. Of course, it’s not a back-test until it reverses and stays higher. The first key level to confirm a breakout are the Jan 4 80.995 high — at which … continue reading →