I hope everyone is enjoying a relaxing holiday weekend. Equity markets close at 1PM EST today. Most of the indices and currencies we watch have been coiling — tracing out triangle or flag patterns this past week. A break out is now imminent, but it will be a trap. continued for members… … continue reading →
Monthly Archives: November 2013
Do you love this rally? Are you ready to throw caution to the wind and plow every last cent into stocks? If your answer is “no”, you’re in good company. Triangles are all about indecision. And, we’ve got plenty of that. Jumping in at all-time highs feels just plain insane — despite the cheerleading from … continue reading →
Another day, another case of whiplash. The dollar is indicative of the volatility — a downtrend to the white .886 that reversed back up to the .382 before heading lower, right? After retracing about 101% of Sunday’s low, it reversed and regained the white channel — only to abandon it again this morning. The EURUSD … continue reading →
Things are on track for the big Butterfly pattern to complete very soon — even as soon as later this morning. For those who have been following this website for any length of time, this is a major milestone we’ve been anticipating since Mar 29, 2012 — shortly after this website was launched [see: All … continue reading →
With markets approaching potential reversal targets in numbers, next week should be the moment of truth for the Fed’s experiment in wealth creation. Targets from two days ago [see: Around the World] versus yesterday’s close: Index Nov 20 Target Recent High Nikkei 225 15,597 15,620 FTSE 100 677 671 NYSE 10,239 10,226 SPX 1823 1802 … continue reading →
Every once in a while the market needs a little reset. The bullish sentiment gets too high, and they need to let just a little air out in order to prevent the balloon from bursting. But, funny thing about these resets: they can get out of hand. Yesterday’s came very close to doing so, and … continue reading →
Today’s the biggest economic data day we’ve had in a while: Retail Sales Existing Home Sales CPI Business Inventories FOMC Minutes Just in case that’s not enough to move the market, many global markets are nearing important potential turning points. Japan’s Nikkei is nearing its .886 retrace of its drop from May 22 at 15,997. … continue reading →
Welcome to Whipsaw City. Population: dwindling. This is the kind of market designed to shake out those who are easily spooked. The eminis made two new lows — with no follow through. But, it fleshed out the rising red channel, so the 1783.50 low looks reasonably solid and needn’t stop out our 1784.75 long position. … continue reading →
There are two factions on Wall Street vying for our money: those who get paid according the number of trades we place, and those who get paid based on how much of our money they manage. They both play an important role, though I prefer the latter from an ideological standpoint. If a manager makes … continue reading →
We’re at another one of those interim Fib levels where we could see a pullback before the final assault on our target. ES and SPX are both apparently intent on bagging 1800. The dollar has continued its drop as expected. Watch for a potential backtest of the broken white channel midlines. USDJPY, after reacting as … continue reading →