Gold’s a touchy subject in the blogosphere. I have nothing against stacking. Holding some of the shiny metal — whether for fun, inflation protection or the coming zombie apocalypse — probably makes sense. But, it’s the GC futures we concern ourselves with, here. And, most serious gold bugs will tell you that the futures and … continue reading →
Yearly Archives: 2015
I’m going to focus on updating a variety of charts today. The first, of course, is SPX. Like DJI, it is perched on the edge of important support — the loss of which portends significant losses in the next few days. continued for members…
In our October update on the Dow, I noted how the white .786 Fibonacci retracement at 17,712 represented not only a legitimate harmonic reversal point, but the intersection of rising and falling channels. But, I also reminded members that: …the Dow is one of the least reliable indices to forecast using patterns and Fibs. It’s … continue reading →
When we examined the likely outcomes of next week’s FOMC meeting yesterday [see: Now and Then] we devoted a couple of column inches to the possibility that Wall Street would throw a fit, much like it did in October 2014, January 2015 and August 2015, to demonstrate how sensitive it was to the taking away … continue reading →
The headlines on June 29, 2006 were fairly unremarkable. The House voted to end the offshore drilling ban. The Devil Wears Prada was being released in theaters. And, the Senate confirmed new Treasury Secretary Lord Voldemort Hank Paulson — who was paid $48 million to take the job and subsequently ushered in the worst financial … continue reading →
In our most recent update last week, we noted that NKD was approaching key support at its SMA200 and rising channel bottom. It was an important line in the sand that, surprisingly, didn’t hold. continued for members… … continue reading →
Are The Powers That Be losing control, or are they merely fine tuning the “markets” in preparation for the Fed’s rate hike next week? Conventional wisdom says equities won’t fare well in a rising rate environment. But, how do the currency pairs figure into that assumption? We’ll take a quick look at the big picture … continue reading →
Anyone else getting tired of SPX being propped up all day long, only to tag our target on a gap down the following morning? It’s great if you play the futures and can manage the overnight risk. But, for cash investors, it’s just one more way that TPTB are preventing you from participating in the … continue reading →
As the “markets” position themselves for the Fed’s rate hike on the 16th, one can only speculate as to which levers will be pulled in order to convince investors that higher interest rates are a good thing. Oil, for instance, has undergone a massive slide since early October, and now sits at the lowest point … continue reading →
In our last update on COMP [see: Oct 28 Update] we pointed to 5124 as the next likely turning point.Sure enough, 4 sessions later COMP reached 5124 and…stopped. Thanks to DX breaking out, it spent the next week criss-crossing 5124. Finally, on Nov 9, it began a slide down to 4908 — a 4.2% drop. … continue reading →