Posted on May 17, 2015 by WHC Bassetti.
Offered a chance to resolve the suspense Friday the market played coy, so the issue remains unresolved. The market principle should be remembered: The market will do whatever it can to cause the most pain to the most people.
Posted on May 15, 2015 by WHC Bassetti.
Well. is this it finally? Could be as we will see further down. No question the SPX has made a higher high and has pierced the uppper trendline. Given the unreliability (if not treachery) of the markets lately one must not depend on anything, and the way technicians deal with uncertainty is waiting. So we wait for confirmation of the penetration.
Posted on May 09, 2015 by WHC Bassetti.
Drawing the lines through the closes allows us to get a clearer picture of what the market has been up to for the past few months — as we have remarked, more than likely an ascending triangle. In spite of a gusher day Friday price has not exited the pattern yet and has not broken to a new high — meaning contrarians could jump on it Monday and take back those beautiful points which were so well deserved Friday.
Posted on May 05, 2015 by WHC Bassetti.
Not everything can be analyzed. But things which are not analysis can be analyzed. This is sort of like known knowns and known unknowns and unknown unknowns — well, you get the idea. The unanalyzed unknown here is the feeling of danger in the air. We are on the edge (razor’s) of danger, if not an explosion.