Now What?

First, a quick overview… The dollar got clobbered overnight, knocking it temporarily out of the white channel that’s guided it since Jan 11. But, interestingly, its RSI channel is doing just fine, thank you. The EURUSD continues to levitate, but still hasn’t broken the last important interim top put in on Feb 24.  It is … continue reading →

Charts I’m Watching: Jan 14, 2013

ORIGINAL POST: The dollar is making a stand at the upper end of the target range I charted Friday, but hasn’t yet broken out of the steep falling channel.  While there was a turn at the .618 Fib that would justify a .786 completion (a Gartley), the more obvious Point B was at the .382. … continue reading →

The Morning After

What a disaster for Boehner & Co. last night.   Did we really need another warring faction?  What are we — Greece!? Wait, don’t answer that!  The markets will not take kindly to this additional complication. Today’s theme song: Maureen McGovern’s song from the 1972 Poseidon Adventure.   Don’t laugh, it won an Academy Award! What sold … continue reading →

EURUSD Update: Nov 20, 2012

Good morning, all.  The markets should get no help from across the pond today.  Though Moodys’ downgrade of France was not exactly news, it should serve to remind investors of the structural issues facing the euro-mess. The EURUSD completed a well-formed Gartley Pattern early this morning, reacting off the .786 of the latest move down.  … continue reading →

Charts I’m Watching: Sep 20, 2012

ORIGINAL POST:  10:00 The logjam finally broke.  We slightly exceeded yesterday’s 1464.50 target — topping out at 1465.15.  This morning’s action reached the downside target “A” we established on Monday [see: The Hangover.] We got a bounce at the bottom of the red channel — which should reach the 1454-1455 area — the recently broken … continue reading →