Will today be the day? Five years since the market finally accepted the reality of the financial crisis, we’re almost back to where we started. We had a reversal at the .618 Fib, the .786 Fib (for a Gartley Pattern), the .886 Fib (for a Bat Pattern) and are now approaching a double-top triple-top. What … continue reading →
Monthly Archives: March 2013
Note: I updated the charts for NDX and NYSE last night. I’ll post EURUSD, DJIA and RUT later today. * * * * * * * * Another day, another gap opening… As we discussed late in the session yesterday, SPX was smacking into resistance on the 60-min RSI chart. The futures are off big … continue reading →
Big Picture for the USD: Daily RSI fell back into the channel recently broken out of, and is backtesting the white midline in the midst of a fairly steep decline — seen better in the closeup below. All this, while DX has been rising. RSI and price are finally on the same path — a … continue reading →
With Cyprus saved, the sanctity of the EU intact, and a US budget deal passed, we can all go back to watching the market ratchet up 10 points/day, right? Here’s the fundamental problem. continued for members… … continue reading →
Today marks one year since pebblewriter.com opened its cyber doors for business. Over that year, I’ve written 351 posts with around 526,500 words (War and Peace has 560,000) which is the equivalent of about 2,100 double-spaced pages. I’ve saved 5,976 charts (1.05 GB) of the 9,375 constructed. ThinkorSwim is thinking about naming a server after … continue reading →
The 2000 top shows just how “messy” tops can be. Here’s the finished picture in perfect hind-sight. It’s a very crowded chart, but every single pattern had a say in how the top unfolded. SPX had zoomed from 442 to 1478 in about 5 years, a not-too-shabby 234% gain for an annually compounded 27%. Once … continue reading →
ORIGINAL POST: 9:25 AM The EURUSD is still trying to change trajectories (purple channel to red), but hasn’t been able to break out yet. The dollar is similarly facing a change in direction if the red channel can hold. Judging from the futures, SPX is set to react off the neckline and TL we’ve been … continue reading →
The ECB will do “whatever it takes”, which I guess now translates into strong-arming the Russians into bailing out Cyprus. Still no break out on the EURUSD, though. It makes sense to play along with the upside, but keep stops close. It’s questionable whether this rally will have any legs. The dollar looks like it’s finding … continue reading →
Friday marks the one-year anniversary of the new pebblewriter.com (I can finally stop calling it that!) Despite all the twists and turns, it’s been a pretty successful year [see: RESULTS.] But, I’m always on the lookout for ways to make it better. So, please take a moment to share your thoughts when the 1st annual … continue reading →
The surveys are coming! Check your inbox later tonight for a survey regarding pebblewriter.com and a new managed fund under consideration. Not yet on the mailing list? CLICK HERE. Friday marks one-year anniversary of the new pebblewriter.com (I can finally stop calling it that.) Despite all the twists and turns, it’s been a pretty successful … continue reading →