A New Day

The EOTWAWKI Sale

Final 48 Hours

There’s something deeply satisfying about being short when the buy and hold crowd is freaking out over the massive (their word, not mine) 5% Brexit drop in the S&P 500. And, that’s what pebblewriter.com is all about — catching most of the moves most of the time, regardless of which way it’s going.

Ordinarily I wait until the actual end of the month to start any kind of membership sale. But, we’ve had a pretty good month so far [CLICK HERE]; and, I have the feeling there are a lot of folks out there who are truly confused about what’s going on.

Be confused no more. Sign up for an Annual Membership at over half-off the first year or, even better, a Charter Annual Membership where your rate is guaranteed to never increase for the life of the site.  Don’t delay, as this promotion ends on July 2.

CLICK HERE here to Sign up Now!

* * * * *

Were you frustrated a few times last month?  If you’re anything like me, you found the degree of market manipulation downright stunning.  But, we were presented with some great opportunities — from the 5% Brexit correction to Wednesday’s CL short, and several USDJPY shorts.

I’ll have last month’s results up this morning, but in the meantime, take a look at USDJPY.  As expected, the rising purple channel broke down last night.

Our bonus chart from 7:30pm last night…

2016-06-30 USDJPY 5 1629…and, the same chart this morning. 2016-07-01 USDJPY 5 0604We’ve talked many times about how USDJPY has been reduced to a tool for manipulating stocks (just yesterday, in fact.)  Consider NKD, which has been building a sharply rising channel all week since Brexit.  USDJPY needed to reset last night, ideally to flesh out the less steep white channel I expected to take form.

Note the tags on NKD’s channel bottom, labeled 1-3.  And, note the placement of the same labels in USDJPY.  Which was the tail and which was the dog?

2016-07-01 NKD 5 0617There are a number of charts which indicate SPX should take a breather, now that the month/quarter are over.  But, will it?  It’s been a hell of a ride since popping back up above the DO NOT CROSS channel top on Tuesday, its first of three gaps higher this week.

2016-07-01 SPX 5 0615I’ll be watching to see when USDJPY drops the rest of the way to 102.3 — a pretty sure thing.

CL, which is now off 4.2% since our top call on Wednesday, suggests we’d be safe shorting here — particularly if it doesn’t pop back above the purple channel midline. With the holiday weekend just ahead, it’d be pretty easy to undo whatever damage TPTB allow today.2016-07-01 CL 5 0625

continued for members...


lock

Sorry, this content is for members only.

Click here to get access.

 

Already a member? Login below

Email
Password
 
Remember me (for 2 weeks)

Forgot Password