Posted on Apr 26, 2015 by WHC Bassetti.
So far we would call this a sneakout rather than a breakout, but it is progress. Whether or not this marks a surrender by the bears or not is yet to be seen, but like new tulips, green shoots are appearing and modest buy signs are cropping up. Here we see the upper bounds of the ?triangle? we mentioned a short time ago being penetrated– a buy signal for the aggressive. Contrarians will short this as they always do, so there will be a pullback in all likelihood, but it looks to us like harbringers of spring. Buy signals have also appeared in the Qs (Friday was emphatic).
Posted on Apr 23, 2015 by WHC Bassetti.
Here is a different way to look at the SPX — a line chart which just connects closes with a line. This almost looks like triangle. It can of course be contained within a rectangle, especially if candle shadows are included. But the important thing is the coiling nature of the pattern — getting tighter and tighter. Foreshadowing fireworks. Professionals sometimes buy option straddles in cases like this. Propulsive power is built up in patterns like this — a confirmed breakout would carry price a minimum of 80 points.
Posted on Apr 19, 2015 by WHC Bassetti.
Posted on Apr 11, 2015 by WHC Bassetti.
Lee, a man of generous spirit, resisted the efforts of some of his officers to continue the struggle with guerilla warfare. It didn’t make that much difference of course. President Johnson gutted Northern efforts to reform the South and southern civilians continued the struggle until 1965.
Posted on Apr 05, 2015 by WHC Bassetti.
Our last letter flippantly suggested that spx futures prices would probably jump 40 points when trading resumed Sunday. Should have said 20 and anyway that didn’t happen, which is a little worrying for Monday’s equities opening. Nonetheless–
As we are in the holy season for Christians and Jews it is worth quoting the Dali Lama: “My religion is kindness.”