All that glitters…

Posted on Jan 21, 2015 by .

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0121gld

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=2&mn=9&dy=0&id=p43220082674&a=255869372

We have been watching gold with deep skepticism.  But it is true that GLD has broken a very important long term trrendline, and given off a buy signal as shown in the following chart.

0121gldb

http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=6&dy=0&id=p50004896245&a=234983962

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Earthquake. More than one earthquake…

Posted on Jan 17, 2015 by .

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0116spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464

At last!  Something that worked the way it’s supposed to work  — that is, five days down expect a bounce.  Often four days down will have the same effect, and so we were a day early in the expected surge up.  Given the chaos of the market recently there is no guarantee that the alpha-beta pattern is the real truth here, so readers should remain alert.  If we get follow through Tuesday and Wednesday we may have a dependable pattern.  Whatever, but we would want the prudent investor not to add on until the downtrend line is broken on strength.  Unless you like adventure.

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Bored yet? Alpha, beta, gamma wave

Posted on Jan 15, 2015 by .

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0114spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464

A wave that transverses 50 or 60 points (or 400+ in the Dow) is ample antidote to boredom.  The question is, is, is it bearable?  The answer is that it is bearable if you are a long term trend trader.  Nevertheless market volatility is enough to raise the eyebrows — if not set the scalp on fire.  Looking at the chart we can see how far away this nonesense (or trader panic) is from significant trend stops.  Pundits now are saying (braying) volatility like this is the new normal.  Not.

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Threee month trendline broken…

Posted on Jan 07, 2015 by .

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0106spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p22775897357&a=266398464

The trendline from October was broken today.  It never does to ignore a broken trendline.  If confirmed and there is follow through serious consequences may be in store.  And the mar09 trendline is within easy reach there.  Readers must now consider what they will do if this trendline is broken.  We are presently reconsidering our stops and will examine posibilities shortly.

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