Increasingly negative tone from tenors, sopranos, orchestra…

Posted on Jul 27, 2015 by .

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0727spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464

Since February we have observed the market grinding its way nowhere.  In this process we have seen wedges and –potentially– a head and shoulders.  Investors have apparently left the market or not re-entered.  And when the cat’s away the mice will play, and the contrarians have been having a field day — and undoubtedly wracking up some nice profits.  This is their favorite kind of market.  We investors can largely overlook this mousing around — until it carries on too long and becomes obnoxious.

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Greased pig…

Posted on Jul 24, 2015 by .

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0723spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464

As Mark Twain said about the weather in San Francisco:  If you don’t like the weather, wait a minute.

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It’s not over till it’s over…

Posted on Jul 12, 2015 by .

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0710spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p48048650177&a=414449998

Among the many gurus, savants, yogis, yoginis, fakirs, fakers (see D. Trump)  we consult on a regular basis one has the  felicity to cut to the heart of the matter — Yogi Berra.  The struggle at this juncture is not over.  The support line at the bottom of the (potential) H&S pattern, as well as the trendline from Mar09 are lending strength to contrarian efforts to make a profit off this over-sold condition.  Wednesday’s sell off created an obvious oversold market and true to form contrarians bought it — preventing a potentially disastrous slide.

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Waiting for …Godot…or Uber, or the guys in the pom-pom shoes…

Posted on Jul 05, 2015 by .

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0705spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p05271428421&a=414952219

Everyone is waiting for the other tasseled shoe to drop except the French taxi drivers who are taking things into their own hands and thumbing their noses at the Austrian economists and creative destruction.  While investors wait the market is firmly in the hands of the traders and contrarians and likely to remain so until Congress gets off its duff and implements some infrastructure repair programs.  Let’s see — that will be in 2017, unless Hillary wins in which case it will be in 2024 –unless…  Well at least the Greeks are more together than our Congress.  (If that’s not too big an insult to the Greeks.)

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