Bet Your Bottom Dollar: Part Deux

UPDATE:  10:30 AM Last night’s call on the dollar was timely.  Check out the candle on the daily chart — the completion of both a Bat and Butterfly pattern. EURUSD also seems to have put in a bottom, though as mentioned earlier it’s going to take ein Akt des Bundestages (literally) to save the euro … continue reading →

Update on EURUSD: April 24, 2012

April 24, 2012 From both a fundamental and technical standpoint, the long-term, medium-term and short-term pictures are all negative on the EURUSD.  Yet, it keeps hanging in there, the beneficiary of a great deal of ECB and, yes, Fed intervention. Here’s the long term picture as of this morning.  EURUSD has been stuck in that … continue reading →

Bottom Fishing

EOD:  2:25 AM SPX overshot the Crab’s 1.618, whichever Point X we use.   The next major lines of harmonic support are are the red pattern’s 2.24 at 1342, correlating with the purple pattern’s 2.618 at 1341. Given the level of oversold on the day, here’s an alternative view. UPDATE:  11:55 AM The Crab Pattern … continue reading →