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 →

Down the Rabbit Hole: Part 2

Alice laughed: “There’s no use trying,” she said; “one can’t believe impossible things.”   “I daresay you haven’t had much practice,” said the Queen. “When I was younger, I always did it for half an hour a day. Why, sometimes I’ve believed as many as six impossible things before breakfast.”                                     ― Lewis Carroll, Alice’s Adventures … continue reading →

Down the Rabbit Hole

“In another moment down went Alice after it, never once considering how in the world she was to get out again.” ― Lewis Carroll, Alice’s Adventures in Wonderland Not quite four months ago, the Fed guaranteed lower interest rates and higher stock prices forever.  At least that was the mainstream media’s take on QE3.  The … continue reading →

Cliffhanger: Dec 31, 2012

ORIGINAL POST:  9:25 EST We remain short from SPX 1447 on Dec 18. The dollar is either finding support at a channel midline or about to find it at the bottom of a channel, depending on which channel ultimately holds. DX RSI shows great channel support either way. The EURUSD is still hanging in there, … continue reading →

Winding Down

Beware the Fee-scal Cliff Today’s post concludes a week of publicly available intra-day posts, my little gift to those considering a pebblewriter membership.  Sorry, but the forecast is for members only. As announced on Monday, subscription prices will increase on January 1.  In keeping with the concept of paying for performance, the annual rate will … continue reading →

Charts I’m Watching: Dec 27, 2012

The dollar broke down from its steepest channel (in white) as I suspected, settling into a consolidation that might flesh out the larger purple channel today or tomorrow before breaking out of the yellow channel it’s been in since Nov 12.  My target remains the .618 at 79.319 on the purple grid. I say “might” … continue reading →

Charts I’m Watching: Dec 26, 2012

I hope everyone had a lovely Christmas.  Intra-day posts will be open to the public this week, my little gift to those considering a pebblewriter membership.   Sorry, but our forecast will still be available to members only. As announced on Monday, subscription prices will increase on January 1.  In keeping with our practice of paying … continue reading →

Charts I’m Watching: Dec 24, 2012

Strange things have happened around holidays this past year.  Though this is a short day (equity markets close at 1pm EST) it’s best to remain vigilant.  Equity futures have recovered most of their overnight losses, and TPTB would love nothing more than to undo the gains we’ve racked up (since shorting on the 18th) while … 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 →