Feeling pretty jazzed, as things should finally get underway today. Today’s theme music from the late jazz great Dave Brubeck, the last of his kind. This track features Brubeck, Paul Desmond, Eugene Wright and Joe Morello doing what they did best — laying down some hot licks. ORIGINAL POST: 9:15 AM Though the jobs … continue reading →
Tag Archives: Inverse H&S
July 2, 2012 COMP appears to be following a set of channels within a much larger channel we identified months ago. Whether it has the wherewithal to rise up out of the large red channel remains to be seen. In the meantime, we’ll focus on the short to medium-term picture. … continue reading →
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 →
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 →
Well, the Greek election came and went and, oddly enough, the world is still turning, the price of gas is still too high and (sadly) Mrs Eastwood & Co is still on the boob tube. The election result was in the middle range of possible outcomes and, as such, has satisfied neither the bulls nor … continue reading →
ORIGINAL POST: 10:30 AM With tomorrow being OPEX Friday and the important Greek vote this weekend, the market is in wait and see mode already. But, we’re on Head & Shoulder watch, meaning the little games that market makers play just prior to options expiration might be a little more predictable. If you’ll indulge me, … continue reading →
ORIGINAL POST: 10:00 AM As Reeodd pointed out yesterday, there is a potential H&S setting up on the 60-min chart. I’ve been a little leery of it, as its completion would certainly alter the timing of the forecast currently in place. It’s highlighted below, and it targets somewhere around 1280. As we saw with the … continue reading →
ORIGINAL POST: 11:00 AM With all the volatility these past few days, VIX has put on a spectacular show — gaining 3.69 yesterday alone (18.6%). The weeks ahead promise to be just as exciting, but not for the reasons most expect. As discussed back on June 2 [see: Channeling VIX] the “fear index” was on … continue reading →
This morning’s hunch to fade the futures’ ramp was a good one [see: Mixed Signals.] “There’s a channel line just overhead at 1337.30 or so that should limit the current rally. Given the way the futures behaved overnight in equities, the dollar and the euro, I’m going to fade this ramped up opening and see … continue reading →