Does OPEX Matter?

This past Friday morning, with SPX down about 9 1/2, I made a crazy call based on some indicators I’ve been watching [more later tonight or tomorrow.]  They said the market would not only stop falling, but would completely reverse itself and open up, leaving a nice bullish hammer going into the weekend and thus, … continue reading →

So Far So Good…

Quick update before the open… VIX call per the bearish Gartley was dead on.  VIX fell another 8% since the call, closing at 16.23  — down from 19.09.  The hourly charts confirm a continued fall over the near term.  My original target of 15.10 looking safe for the moment.  Very bullish for a continued rally … continue reading →

Are We There Yet?

While it would be easy to jump on the P[3] bandwagon right about now (and it wouldn’t take much convincing) a note of caution is in order. A pullback that stalls in the low 1320’s on SPX would leave a pretty well-formed bullish Gartley Pattern (Point B should be 4 points lower, allowing a fuller … continue reading →

VIX Indicates Caution

VIX just completed a very well-formed bearish Gartley Pattern [see last post – Are We There Yet?], indicating it MIGHT have topped at 19.09.   In addition, VIX just bounced off its upper bollinger band, and there’s a shooting star on the 30 minute candle.  SPX is also a few points from completing a bullish Bat … continue reading →

GM Fumbles in the Red Zone

It was supposed to be a great turnaround story, a good cause and a profitable investment, too.  After going public again post taxpayer bailout, GM dropped like a rock despite research report puffery that would have Shakespeare drooling with envy http://in.mobile.reuters.com/article/rbssConsumerGoodsAndRetailNews/idINN1824469820110419?irpc=984 … continue reading →