UPDATE: EOD Not much time to write tonight, so I ‘ll make this short and sweet. Pretty impressive run by the bulls today, but still on low volume and marginal breadth. At the very least, I have to expand the channel I drew yesterday. I’m still confident that this is a 4th wave up, with … continue reading →
Category Archives: Charts I’m Watching
UPDATE: 12:25 AM Fan Line C to the bears’ rescue! I count that as five rallies stopped in their tracks (Aug 9, 10, 19, 22 and 23.) Not bad, Line C, not bad at all. UPDATE: 11:45 AM And a counterpoint, an IH&S; pattern on SPX completing at 1143. It has potential to 1161. … continue reading →
Reprinted in its entirety from Zerohedge. I have nothing to add. … continue reading →
Just a quick check on how the fan lines from the Oct 07 top and Mar 09 bottom have done so far. First, the big picture… And, a close up of how well they’ve done lately in guiding price moves… Their performance has been nothing short of stunning. The Mar 09 fan lines (numbered) did … continue reading →
UPDATE: 7:20 PM Here’s the latest 2007 v 2011 comparison. As we discussed last week, the current pattern is slowing relative to 2007/8. But, for the bears, it’s worth the wait. New home sales are due out in the morning. Consensus for July is 310K versus June’s 312K and 315K in May. Keep in mind … continue reading →
UPDATE: 4:15 PM SPX ended at the lows of the day, a good sign for the bears. However, there’s a little divergence set up on the short term charts, so we might see a little bounce in the immediate future. I would imagine we at least fulfill the H&S; pattern (to 1114) first. UPDATE: 3:08 … continue reading →
A Doppelgänger, which in German means “double walker,” is a double or a duplicate. In folklore, it’s a ghostly replica of another person whose appearance is a harbinger of death. In the stock market, it’s a harbinger of market crashes and financial death. I’ve been following the similarities between the 2007 and 2011 markets since … continue reading →
UPDATE: 3:30 PM I can’t for the life of me figure out why investors ignore chart patterns. Someone could make a very nice return on their portfolio by focusing solely on rising and falling wedges. UPDATE: 12:55 PM An explanation of my 1070 target. Take a look at the past five years, and a very … continue reading →
EOD: 11:15 PM I have a feeling tomorrow’s going to be a busy day, so this is my last post for today. CPI and initial claims come out at 8:30am (5:30 for us on the left coast), existing home sales, Philly Fed and Leading Indicators at 11:00. I know things are supposed to be quiet … continue reading →
LAST NOTE (MAYBE): Couldn’t help noticing all the registration notices floating past on TOS Live News just now. For some reason, insiders don’t seem all that bullish on their own stocks… Lots of talk about the McClellan Oscillator (MCO) today. For anyone interested, here are the relevant points: Note that we’re in good shape in … continue reading →