ORIGINAL POST: 11:15 AM In something akin to a recess appointment, the market is making a run for our target area (the rectangle in the chart below) during a holiday-shortened trading session. We’ll look at the chances it has of getting there and the most likely impediments. First, the little pullback we had to the … continue reading →
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Note: only six charter memberships are left as of EOD Thursday. I’ll keep this going until they’re gone. Congratulations to E.J., P.B. and T.J. for locking in today’s annual rate for the life of the site. * * * * * * * * Well, we got the rebound we were expecting…although it was a … continue reading →
The market continues to follow our forecast nicely. Recall we sold our longs and went short at 1330 on Monday’s opening, only to cover and go long later in the day at 1315 [see: Channel Watch]. Now, we’re back to 1332 and still long — as long as the channel holds. It’s been a wild … continue reading →
Periodically, I like to go through and chart the various harmonic scenarios for both the upside and downside. It helps to pass the time while sitting and staring at the computer monitor, watching our forecast play out (so far, so good.) It’s also helpful in generating a set of potential outcomes for the market over … continue reading →
Taking another stab at VIX’s daily chart. Yesterday’s low of 17.09 was just .03 off the .786 Fib level of 17.12 we mentioned a couple of days ago [see: The VIX is In]. There are a couple of different interpretations. Fist: that the smaller (red) pattern is complete at the .886 and should reverse strongly. … continue reading →
ORIGINAL POST: As expected, the Fed threatened much but did little – extending Twist through the end of the year. Stocks and commodities didn’t much like it; the dollar is up nicely. If the sell-off holds or accelerates at all, it will confirm the Point B we placed at 1363.46 yesterday — the Fib .618 … continue reading →
GC soared over $1200/oz since losing 30% in sympathy to the global market meltdown in 2008. Most of that rise took place in an acceleration channel. In the past year, however, the most prominent pattern has been the descending triangle (purple, dashed.) Continued… … 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 →
I’ve taken advantage of a relatively quiet morning in the markets to finish mapping the road ahead. There are quite a few harmonic patterns in play right now. My practice is to map all the apparent possibilities and look for confirmation (or lack thereof) between patterns — and then look for ways in which they … continue reading →