Bizarre bungee markets…

Posted on Aug 18, 2019 by .

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A line chart which shows the volatility close to close. The recent days have been in some cases historic and bizarre.  So much so that we made a note of the daily ranges, which are to say the least, unusual:   562 (7/31),  626, 735,  632, 345, 354, 593, 536, 564, 593, 1300 (closed down about 800 (that is) 3% a historic record).  Looked at from a different perspective:

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Nasty nasty charts……

Posted on Aug 05, 2019 by .

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http://schrts.co/BqHgjEIa

With midday charts of Monday, not yet updated with the 700 point drop.  But you don’t need the real time update to see the wall (the Trump wall?) the market has hit.  True for the INDU and the SPX.  The more meaningful story is told by AMZN.

http://schrts.co/FfFwjZae

http://schrts.co/RRbQjDuh

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Ambiguous double top…

Posted on Jul 21, 2019 by .

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http://schrts.co/wuWAJSNw

This double top is 588 points deep.  That forecasts a downside target of 1763.  IF…  If it is fulfilled and if its significance has not been canceled by the two waves at the end.  Wykoff practitioners might interpret this latest wave as a UTAD (or upthrust after distribution).

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Posted on Jul 05, 2019 by .

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http://schrts.co/ZSynMrVZ

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As is obvious from the chart,  price has broken out from the stutter step it engaged in at the prevous high and is giving a buy  signal.  We will be adding on to our position.

http://schrts.co/RZDZHKZs

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On the razor’s edge…

Posted on Jun 23, 2019 by .

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http://schrts.co/qdvDsUSv

By a hair prices have made a new high.  This awaits confirmation.  Elements to consider:  Climax like volume; Flag formation is not complete and has more upside in it; Confirmation should ignite a strong new wave; Is this the top of a second wave of a double top pattern?

Confirmation is a strong buy signal. (will be)

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