Intra-day: August 16, 2011

 UPDATE:  3:30 PM SPX trying to come back, but completing another bearish Gartley pattern intra-day.  Should reverse by 1198.   UPDATE:  11:50 AM SPX completing a little Gartley, in the process of backtesting the rising wedge.  Next move should be down. UPDATE:  11:15 AM SPX, gold, DX all seem to be completing small degree corrective … continue reading →

August 8, 2011

I know this market seems unbelievable, but be careful about calling the bottom unless some of the RSI charts are able to break their TLs.  Here’s the 5 minute chart: And, the 60 minute: Note every time the market tries to turn, the RSI is turned back by its trend line.  I, for one, won’t … continue reading →

Lessons Learned

I know, strange title.  I was going to go with “A Little Self-Doubt Can Knock the Snot Out of Your Portfolio,” but that seemed a bit excessive. Just came across this chart from June 23 [Deja Vu, All Over Again].  I had recently discovered fan lines, and was pretty excited about the prospects. Combining fan … continue reading →