Charts I’m Watching: Feb 7, 2013

Nice little intra-day sell-off again yesterday, culminating in a last minute positive close — another shake-and-bake by your friendly neighborhood market makers to separate you from your hard-earned money. Look for more of the same today. Today’s news is all about currencies.  Draghi’s comments are successfully taking some of the bloom off euro’s today.  The … continue reading →

Charts I’m Watching: Feb 5, 2013

The dollar is taking a breather after a strong reversal off the latest .886 and channel bottom, but appears ready to break out. The EURUSD back-tested the broken channel line and rising wedge lower bound, and is likely about done. SPX fell 19-pts after we shorted last Friday.  We positioned for an intra-day bounce, but … continue reading →

Charts I’m Watching: Jan 29, 2013

Currencies are relatively quiet this morning in the midst of a slew of earnings and economic data. The dollar looks like it could hit our downside target of 79.50 – 79.59 from Jan 25 [see: Update on DX] this morning if the yellow channel holds, but note that its midline intersects with the bottom of … continue reading →

Charts I’m Watching: Jan 28, 2013

A positive durable goods report, mixed CAT earnings and the usual meaningless NAR drivel (this time negative, but being spun as a lack of inventory) have combined to drive SPX down 5 points.As we discussed Friday, the bottom of the purple channel (1498) and/or midline of the white (1496.50) are good trigger points for those … continue reading →

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 →

Update on Everything: Jan 11, 2013

  Around the horn with major indices and currencies…  Like SPX, most are at a threshold where they must either break down or break out (I think “break down,” but we’ll know soon enough.) Coming up: VIX, RUT, COMP, NYA, NDX, DJIA, FTSE, SPX, DX, EURUSD, USDJPY, AUDUSD, CL, GC, SI.  And, yes, I’m happy … continue reading →

Charts I’m Watching: Jan 8, 2012

We’re getting a little more momentum going on the downside today.  SPX completed the small H&S pattern I posted yesterday.  It targets 1445 — approximately the .146 Fib of the 1266.74 – 1474.51 rally. DX completed its back test of the falling red channel and continues to show strong positive divergence.  The RSI chart shows … continue reading →