Yesterday’s daily post’s title said it all: timing is everything. Yet, I had no idea the gratification would be so instant when I posted the recommendation to short oil at 9:35AM. CL is at or very close to the top of a long-term channel that could put an end to any further escapades… The SMA100 … continue reading →
Had the disappointing OPEC summit results been announced during market hours yesterday, we might not have seen a 2.8% ramp in WTI futures from Tuesday’s lows. Together with the ongoing meltdown in VIX, this was enough to push S&P500 futures to new all-time highs.But timing, as they say, is everything. With a 7-pt ramp in … continue reading →
Traders around the world are breathing a sigh of relief, this morning, after the market narrowly averted a disaster yesterday. The day started normally enough, with a gap higher on an 11.4% plunge in new home sales. But, after gaining about 7 points, SPX started slipping. At 12:09, it began what can only be described … continue reading →
Not even the threat of selling off half the Strategic Petroleum Reserve has been able to dent CL’s algo-inspiring price action. With help from VIX, it has been able to squeeze another few points out of the futures, which are currently up 4 points. Our next upside target is just overhead. Will we get the … continue reading →
Futures are up about 4 points on another CL ramp and VIX dump this morning. Meanwhile, EURUSD and DX have both tagged our targets from earlier in the month. continued for members… … continue reading →
It depends. Do you feel safe with a faltering ramp in WTI and slump in VIX holding back the selling pressure generated by a falling dollar complex? SPX made a nice recovery yesterday, setting up some potentially bullish patterns but failing to follow through on them. Some of those patterns have been under assault overnight, … continue reading →
Back on April 25, I posted “How Broken is the Market?” and included the following VIX graphs. The first showed a long-term channel (below, in yellow) the bottom of which was occasionally tagged in times of extreme complacency. Each instance was followed by a correction.I contrasted it with a chart of the same channel which, … continue reading →
As DXY closes in on our next downside target, it seems like a good time to check in on USDJPY. In our last major update [see: April 3 Update on USDJPY] I tried to reconcile two slightly incompatible targets: the .618 Fib at 107.86 and the SMA200 (then) at 108.41. There was a third potential … continue reading →
In our March 28 update on gold [see: Follow the Yellow Brick Road] I identified several upside targets that would be in play if GC was able to top its SMA200 — the first being the .618 Fibonacci retracement at 1280.80. I reiterated it on April 11 [see: Price Alert on Gold] as GC spiked … continue reading →
Lots going on this morning…with the key chart being the breakdown in the USD, which is approaching our target from May 1.Our downside targets from yesterday remain in force, and we remain short. continued for members… … continue reading →