The eminis are flirting with danger this morning, having ducked below a key channel midline (dashed, purple) but bouncing off a smaller channel bottom and another channel midline (dashed, white) near a .786 (1674.15) for a Gartley Pattern completion. The dollar is threatening to break out of the falling wedge…. And, the SPX is set … continue reading →
Tag Archives: crab
It’s not often I get the chance to plug a future competitor. As some of you know, my son Kyle is helping me out this summer. He will graduate in December with an Economics major and Personal Financial Planning minor from Texas Tech University in lovely Lubbock, TX. In addition to performing many rather thankless … continue reading →
It’s been a while since I last updated this page. The equities markets have kept me working overtime, and I assumed our May 15 forecast had long since jumped the tracks. At the time, Gold had plunged 270 to 1321 per ounce in only 4 sessions, bounced at 1321 (the day after our bottom call) … continue reading →
Since breaking above the 2007 high, the Dow’s been on a tear — eager to leave 2007-2009 in the past. In so doing, it sliced right through the white 1.618 extension of the 2011 correction and the 1.618 and 2.24 extensions of the drops from Apr 2012 and Sept 2012. What’s next? continued for members… … continue reading →
The pair has dropped like a rock since the purple channel broke down on June 5. It reached the .886 Fib as expected [CIW: Jun 6], then immediately bounced back above the neckline of the H&S Pattern it had completed (in red, below.) The following day, it fell back through that neckline, and has spent … continue reading →
While the Nikkei hasn’t officially been on our hit list, it’s certainly been fascinating to watch. Today, it earned its very own page on pebblewriter.com. Late last night (early this morning?) I updated the USDJPY [HERE] which was at a critical point in its own rally to the moon. It recently broke down through the … continue reading →
After recently completing a Crab Pattern at the 2.24 extension, USDJPY fell back through the purple channel midline to the 1.272 Fib level, where it is staging the backtest of the midline we forecast last week. While I expect the backtest to be successful, meaning a leg lower is in store, the 部屋に象 is the … continue reading →
Our last update [Apr 15] devoted to gold came in the midst of a huge meltdown. Gold had lost channel support, horizontal support at the psychologically important level of 1500 and was dropping like a rock through 1335. Never one to shy away from an opportunity to embarrass myself, I gave my best guess: we … continue reading →
The market bounced back a little into the close yesterday, and recovered further overnight. ES retraced a Fibonacci .886 of the initial plunge, and is hanging in the small channel established over the past week. We shorted SPX at 1635 yesterday, but weren’t sure whether or not the upside was completely done. This morning, there’s … continue reading →
It certainly looks like we’re almost there. The eminis seem to be already there… The EURUSD is clinging by its fingernails… The dollar looks ready to rumble… The USDJPY is making a bid for an IH&S, but has run smack dab into that yellow channel midline again…moment of truth for the yen… This morning’s dip … continue reading →