NOTE: Protect yourself from future price increases. I am again offering charter annual memberships that lock in your current annual membership price ($1,200) for the life of the site to the next 20 subscribers or until May 1, whichever comes first. Afterwards, annual memberships are slated to increase to $1,800, followed by a final increase … continue reading →
Monthly Archives: April 2013
NOTE: Protect yourself from future price increases. I am again offering charter annual memberships that lock in your current annual membership price ($1,200) for the life of the site to the next 20 subscribers or until May 1, whichever comes first. Afterwards, annual memberships are slated to increase to $1,800, followed by a final increase … continue reading →
The dollar continues to settle, and is currently below the purple channel bound. DX tagged the .786 of its rally from Apr 16, so should reverse from there or, alternatively, the .886 at 81.956. The USDJPY, which fell through the purple midline last week, reached the .618 of its last leg up and is likely … continue reading →
Another disappointing GDP print, and the markets seem to be reacting with a shrug. Look closer, though, and it’s apparent the markets are teetering. Many currencies and equities reached the point where they should correct yesterday, and now appear to be tipping over the edge. The magnitude of the correction is still a question, but … continue reading →
On April 2, 2012, SPX completed a Butterfly Pattern at 1421 — the 1.272 extension of the July – October 2011 plunge. It provided a great entry point for the fledgling pebblewriter.com’s first major short position. We scored over 20% in about 2 months [see: All the Pretty Butterflies] trading the 11% decline. XLF hadn’t … continue reading →
The best laid plans of mice and men Go often awry, And leave us nothing but grief and pain, For promised joy! Robert Burns, 1785 ORIGINAL POST: 6:45 AM EDT The wedges we’ve been watching on DX and EURUSD are playing out. EURUSD has broken out… …and DX has broken down. But, it’s the USDJPY … continue reading →
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 →
Watching the eminis this morning… Rallying with the dollar again… Something’s gotta give. We discussed what a push up to the white midline would mean last week [see: Dollar Daze.] As SPX approaches the white .618 at 1573.93, we’ll find out whether the H&S Pattern is still in the cards. Note that this is the … continue reading →
Looks like we’re getting some follow-through this morning on Friday’s technical rally. But, this doesn’t appear to be one worth chasing unless it can push up strongly through 1560. I’ll play along on the opening with an interim long position, with tight stops for the fizzle that could come quite quickly. If 1560 is exceeded, … continue reading →
I’ve been quite bearish since going short on April 11 at 1597 [Big Picture: 11:30 update.] Yesterday, though, SPX reached our initial downside target of 1540 and, as expected, paused. As we’ve discussed, this was an important points for bulls to take a stand. It was also the ideal spot from which to launch the … continue reading →