When markets are propped up for an extended period of time, the risk doesn’t go away. In fact, the postponement increases the tension such that the unwinding — the eventual return to stasis — is often more violent than would otherwise have been the case. With the US elections only a week away, we have … continue reading →
Category Archives: Charts I’m Watching
The economy is either growing rapidly or slowly. Inflation is either spiking or disappointingly low. Earnings are just great — except when they’re not. Today’s “market” is like one of those carnival fun houses, complete with the curvy mirrors that distort reality — just, without the giggles. Futures sold off sharply after the close yesterday, … continue reading →
Yesterday started off well, with great calls early on (off a downside target of 2132.91, we went long at 2132.66 and took profits at 2145.65; the top was 2145.73.) The rest of the day was an aimless mess, as traders couldn’t make up their minds whether oil’s collapse or the barrage of bad DB news … continue reading →
Oil broke down as expected yesterday, leading stocks lower after a week of trying to retrace losses from earlier this month. It occurred despite an impressive spike in USDJPY, which should be concerning to central planners. Since oil first peaked on Oct 10, equities have had a tough time of it. As we discussed in Welcome … continue reading →
This is an excerpt of the intraday comments and trade advices from The Big Picture posted on Oct 26, 2016. I’m posting it here for those interested in how the site works and the types of information offered each day. It was a good day — not the best, but not the worst. We capitalized … continue reading →
As CL continues to tread water, USDJPY is doing its best to pick up the slack. But, investors know the yen carry trade is a mere shadow of its former self. Kuroda’s most recent comments reveal the BoJ, like the ECB, has lost the ability to make us believe. It is reduced, instead, to blatant currency … continue reading →
In our last update on the US Dollar [see: Sep 18 Update on DX] I theorized that the euro would play an important role in balancing the yen/oil/US dollar/stocks equation — a role that would see it break down soon. EURUSD’s rising purple channel broke down after Brexit, backtested for the next two months, and has broken down … continue reading →
Depressed over the state of American politics? Still feeling the Bern? Secretly hoping that the giant meteor “takes all” on Nov 8? Enjoy the timeless wisdom of George Carlin who, in his own salty, inimitable style, offers a different slant on voting. …I believe if you vote, you have no right to complain. People like to twist that around, … continue reading →
Nothing fancy this morning…just a plain old ramp job. It hasn’t yet been supported by USDJPY or CL, but VIX continues to work its way lower — with multiple targets besides our 12.46. It should be enough to break SPX out of its malaise. Though, there are a few bearish leaning indicators. continued for members… … continue reading →
I spent the weekend thinking about the current state and the future of our website, and wanted to share my thoughts. Trade Advices Our members include day traders, individual investors, family offices, brokers, investment advisors and hedge funds — each with different objectives, time horizons, risk tolerances, etc. But, all are keenly aware that it’s … continue reading →