Apparently AAPL slashing guidance is inconsequential and Bill Gates, who is predicting 10 million deaths, is some sort of conspiracy theorist – because the market continues to ignore the coronavirus story. Perhaps somewhere down the line the investing world will come to realize what we’ve known for years: stocks have become increasingly easy to manipulate. … continue reading →
Tag Archives: AAPL
It’s now been almost a month since we posted our analog-based forecast [see: Analog Watch July 15.] If it’s valid, we should see a sharp selloff over the next few days which ushers in 9-12 months of increased volatility and losses. From that post: Ideally, an analog provides exceptionally accurate forecasts of a very significant … continue reading →
We would almost always expect a big bounce off SPX’s 200-day moving average. Despite yesterday’s dip below the 200-DMA, the index dutifully crept back above it in time for the close. And, the futures are currently showing an 8-point gain.Yet, if an analog I’ve been watching and our yield curve model are correct, this bounce … continue reading →
Things are playing out as expected, with ES coming within 5 points of our next downside target (the SMA200) overnight. The chart receiving the most attention is the 10Y, which broke below 22.94 and is on its way to our 21.72 target.The one which should be receiving the most attention is SPX, which closed below … continue reading →
It’s now been five days since futures bounced out of the falling white channel. It still seems fairly likely it was just a delaying tactic, as various currency pairs, commodities and indices are sliding toward our next targets. continued for members… … continue reading →
Though it is getting a little monotonous, I’ll never get tired of saying that we’re about to tag our next downside target. The past two weeks of downside have been a great recruiting tool for chart patterns and this website in particular. A note to prospective members…we’re currently offering auto-renew monthly subscriptions at half-off the … continue reading →
The markets weren’t exactly reassured by Powell’s testimony yesterday. Bottom line, no one in their right mind buys the idea that we can have such strong GDP and wage growth but still need such accommodative policy. IMO, Powell was curt and sometimes downright evasive, which didn’t help matters. Stocks plunged to our initial downside target, … continue reading →
Two weeks ago, after Boeing’s second 737 Max 8 crashed, I suggested the most obvious outcome from a charting standpoint [see: One Step Forward, Two Steps Back.] Obviously, BA is reacting to the second crash of its key 737 Max 8. But, its chart already argued for a downturn before the latest tragedy.First order of … continue reading →
While January’s retail sales saw a modest rebound (+0.2% MoM), December’s were revised downward from -1.2% to -1.6%. Futures bumped slightly higher, presumably because a slowing economy protects the market from Fed tightening. In reality, it was driven by continuing VIX algo-signalling. With key DJIA component Boeing off sharply in the pre-market, today could be … continue reading →
Yesterday’s setup for the e-minis looked pretty straightforward: a drop through the 200-day moving average and backtest of the 2.24 Fibonacci extension at 2729. Futures had already dropped through the 200-DMA and were heading south when the dismal retail sales data dropped. I hedged my bet, redrawing our daily downside target to include the 10-DMA … continue reading →