Easy come, easy go…

Posted on Jul 28, 2018 by .

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http://schrts.co/Jz6kLj

There probably should be a case in our language to discriminate between “easy comes” of  less than milllions (much less billions) and multi billions.  On Thursday the market shaved (nuked?) 120B (BILLIONS) from the market value of Facebook.  Is this significant?  Well it broke Facebook’s long term bull trend.

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Breaking away? or breaking backs?

Posted on Jul 25, 2018 by .

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http://schrts.co/ivhRtn

While we believe that contrarians still control the market, there is no doubt that prices are breaking above their highs and throwing off buy signals.  The new high was made a few days ago –on such lackadaisical action that it looked like a bull trap.  But now we are getting confirmation thrust and buying is less risky.  In fact mandated.  We don’t think it is an “all in” situation but these are the best signals we have seen in months and scaling in and adding on are certainly in order.  Thee is one more high to subdue before the all clear signal flashes, but this action is very favorable.

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1st rule: more of the same, with intermitent volatility

Posted on Jun 26, 2018 by .

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http://schrts.co/ivhRtn

More of the same: this market is still in thrall to the events of February:  2872 at the top and 2580 at the bottom.  Within this context we have just seen two up wavelets.  The latter of these  has just ended, as indicated by the trendline, followed by, for emphasis, by a power bar down and a gap.  As these are short term phenomena it means we are in a down wavelet, duration and strength unknown, but probably constrained by the range.  Swing traders will undoubtedly be short, and long term invesors will be gritting their teeth and staying long.

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