Archive for October, 2012

What’s going on…What’s going on? WHAT…

Posted on Oct 28, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

 

http://stockcharts.com/h-sc/ui?s=GOOG&p=D&yr=1&mn=0&dy=0&id=p20970412253&a=249618391

What’s going on? Pretty obvious actually.  Some major players (or player) just took a major piece of risk off the table.  Of course they may have created the risk they were trying to avoid.  They took GOOG down 104 points in 15 trading days, and AAPL down 101 points in 26 days.  The chain reaction hammered the indices too.  While these were canny moves for billion dollar portfolios all it signifies is that torrential supply will drive prices down.

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Do not walk about the plane. Fasten seat belts…

Posted on Oct 23, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

We warned you about October 19.  The market is clearly spooked.  And of course, no one knows why.  Well, we know why.  It’s because a lot of heavy selling took place.  Why’s that?  Who knows?  There is a major sun flare around this time.  But basically all those sellers sold before the music stopped and they couldn’t find a chair.  There, that explains it.

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PnF charts go thumbs down…

Posted on Oct 14, 2012 by .

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Friday the PnF charts displayed new (bearish) patterns.  We don’t make our decisions based on PnF charts but we watch them out of the corner of our eye.  The method looks for a target of 12900 in the Dow.

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Switch gears…

Posted on Oct 10, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p97142210271&a=214966864

The general market environment has deteriorated over the past few days.  In the SPX a new pattern appears to be emerging– namely a lower high and a lower low.  At the moment this lower low is razor thin –.64 as compared to .53, but the alert is there.  In addition the SEpt-Oct pattern has a toppy look.  It appears something like a double top on a very minor scale — is not by definition as it is too short a time scale.  The implications of this formation are not significant at this time  — about 40 points but it is never wise to relax your vigilance.

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