Harmony and me…we’re pretty good company. From the moment I first heard about Fibonacci, I was l hooked. A numerical sequence that produces mysterious and magical ratios that show up in everything from the design of pine cones and nautilus shells to the layout of pyramids of Giza and dimensions of the Parthenon? Sign me … continue reading →
Category Archives: Charts I’m Watching
I hope everyone is enjoying the new site. We’ve had a pretty good run, and I’m happy to report administrative issues have not been too overwhelming. The one exception is that several users have been locked out of their accounts once or twice. An automated message is sent out by Digital Access Pass (DAP) — … continue reading →
As Ben Bernanke scolds Congress for how pitiful a job they’ve done on fiscal policy, SPX has staged an important break out. Daily RSI broke out of the channel that goes back to January. It has done a phenomenal job of providing guidance, and a clean break out is unlikely to occur without at least … continue reading →
Streaming live now on the ECB website. Press conference over. Introductory statement available here. Bottom line: no interest rate change, but ECB will continue LTRO and MRO through at least the end of 2012. Based on our regular economic and monetary analyses, we decided to keep the key ECB interest rates unchanged. While inflation rates … continue reading →
As a member correctly pointed out in his comment on XLF Update, a ramp in XLF would mean some big returns for important components such as BAC, C, JPM, etc. This is very true. Though it pains me to say it, I think banks are ready for a bounce. I sold all my remaining JPM, … continue reading →
Financials play a pivotal role in the markets. They led the way as they enabled the previous run-ups and bubbles, and they led the way down when the house of cards was revealed for what it was. The survival of nearly all markets is hanging by a QE thread, so we’ll take a fresh look … continue reading →
Many readers have been asking about oil. It’s not that I haven’t been interested, it’s just been a real bear to analyze. Here, after a dozen hours of racking my brain, is where I see it. Like many stock indices and currencies, Crude Light (CL) is at a critical stage. It reached 114.83 after breaking … continue reading →
The May 8 forecast for NYA was for the index to plunge from 7815 to 7340. The forecast worked out well, as Friday’s low was 7286 (a quick 7% return, yay!) As noted in that update, 7340 doesn’t really match up with any particular Fibonacci levels. And, it doesn’t intersect with the rising wedge until … continue reading →
VIX has very nearly reached the channel mid-line, Inverse H&S and Crab pattern targets I posted back on April 18 [see: VIX at a Crossroads], though we’re 2 days behind schedule. Our IHS target was 28.10 and the Crab pattern target was 27.12, expected to occur on May 30.) Friday’s high was a very close … continue reading →
Although the attached is a presentation on the current status of our wounded economy — limping onto the field one last time, hoping against hope that the steroids will last another 15 minutes, it also describes the turn your relationship with friends and family will take when sharing with them your scary new world view … continue reading →