pebblewriter

Tag: silver

  • Facebook Flops

    Futures are off sharply overnight on Facebook’s sensational plunge.

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  • COMP’s Moment of Truth

    COMP’s breakdown caught a lot of people by surprise (though thankfully, not everybody.) Likewise, its bounce has turned more than a few heads.  As it approaches a backtest of its channel line and SMA200, what can we expect? And what does it mean for the broader market?

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  • Put Up or Shut Up

    SPX has been threatening to break back above its 200-day moving average ever since Jan 23. Despite numerous vigorous attempts, it remains below it, signalling more downside ahead.

    It’s time for the bears to put up or shut up.

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  • Charts I’m Watching: Jan 28, 2022

    Futures have been all over the map, but ES’ flag pattern is still intact.  All of our targets remain unchanged. Look out below.

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  • The Fed’s Gut Check

    After Monday’s tumble, will Powell have the guts to stick to his inflation-fighting guns?  Futures are up about 1.5%, but are still just shy of the 200-day moving average.

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  • Undone?

    ES tagged our next downside target this morning……tagging the 4319 target we posted back on Jan 3 [see: De Facto Shutdown.]

    The only question now is whether stocks will get the big bounce they usually do after a 10% correction or whether they’ve come undone. In other words, I have this 1969 Guess Who classic on a loop this morning. The lyrics seemed especially apt for today’s equities market.

    She’s come undone
    She found a mountain that was far too high
    And when she found out she couldn’t fly
    It was too late

    From the ain’t it cool department…Burton Cummings rocks a pretty convincing Seattle grunge look 50 years ahead of the crowd, plays a mean jazz flute (inspiring the future Ron Burgundy?) and scats in a frickin’ rock song.

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  • Charts I’m Watching: Jan 20, 2022

    Another overnight bounce, another head fake…

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  • COMP Signals More Pain Ahead

    A little over a week ago, COMP made a hard bounce off its 200-DMA, gapping much higher the following day. Yesterday, it plunged below its 200-DMA and closed there – not a good sign for the bulls.

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  • Charts I’m Watching: Dec 29, 2021

    Having reached an interim high, ES is content to remain there…for now.

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  • Charts I’m Watching: Dec 27, 2021

    Algos are eyeing new all-time highs for the third session in a row, a combination of low volume…

    …and VIX’s continuing flirtation with its 200-DMA.

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