ORIGINAL POST: 9:15 AM The ugly NFP has been called “not ugly enough” to bring on more QE immediately. Let’s look at how the current 10-pt ES loss might shake out on the opening. continued… … continue reading →
Tag Archives: RSI
RUT is again nearing its previous highs of 856 (July ’07) and 868 (May 2011.) It’s already exceeded the .886 of each of those, and is rapidly approaching the .886 retracement of its most recent dip from 848 to 730 (March 27 – June 4, 2012). As charted back on June 15 [see: Forecasts, Darts … continue reading →
ORIGINAL POST: 11:15 AM In something akin to a recess appointment, the market is making a run for our target area (the rectangle in the chart below) during a holiday-shortened trading session. We’ll look at the chances it has of getting there and the most likely impediments. First, the little pullback we had to the … continue reading →
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 →
ORIGINAL POST: 3:40 PM Today’s shaping up as planned. We’ve had a nice 10-pt move after tagging our downside target range of 1303-1308 yesterday and again this morning [see: Mixed Signals.] After fading yesterday’s opening at 1335, that represented a nice daily gain of 2.1%. SPX has pushed up against its 60-min RSI channel and … continue reading →
ORIGINAL POST: 10:55 AM It’s tempting to consider this morning’s drop to 1307.77 “close enough” to our 1303.47 target, but I’m not completely convinced. We have a nice buffer in, having shorted at 1325 yesterday [see: Moment of Truth], but the short-term RSI charts haven’t given a clear signal yet. … continue reading →
I wasn’t sure what to write about today until I got a great question from a reader, who hopefully won’t mind my reposting it here: Pebble, I enjoy your analysis, but are you really saying you bought at the low on Friday and you sold at the exact high yesterday? “After scalping a quick 36 … continue reading →
ORIGINAL POST: 10:00 These are the toughest times in investing — calling a top or bottom, then watching an opening that threatens to undo it. I mentioned in yesterday’s first post I was expecting a choppy next few days. Talk about understatements… After scalping a quick 36 points (going long Friday at 1292, selling at … continue reading →
UPDATE: 1:45 PM So far, SPX has obliged us by tagging every one of our targets. The 1310 Fibonacci .707 retrace [see below] of the 2007-2009 collapse is our current intra-day low, and we’re presently sitting at the 1.272 target of the Butterfly incorporated into the analog I first posted on April 9 [see: New … continue reading →
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 →