Archive for December, 2012

Dancing along the cliff’s edge…the technical cliff

Posted on Dec 27, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=4&mn=6&dy=0&id=p30028146067&a=239474174 Readers cannot but be exasperated by the kabuki show taking place in Washington — as evidenced by today’s price behavior. A range of 21 points in the SPX — with an actual change of less than 2 points. Like a monkey watching a puppet show the market sits on its cage fence with its […]

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Heads and shoulders–upside down, or Kilroys

Posted on Dec 21, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=7&dy=0&id=p10149991945&a=259588108 Recently analysts have been talking about a head-and-shoulders pattern in the SPX.  We can’t see a H&S but we see a Kilroy, or reverse head-and-shoulders which we have marked here.  S/H is shoulder/hand and H/N is head/nose (see the 9th or 10th edition Technical Analysis of Stock Trends).  The depth of this formation, 91 […]

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Fool’s gold, fool’s silver….

Posted on Dec 20, 2012 by .

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http://stockcharts.com/h-sc/ui?s=SLV&p=D&yr=0&mn=9&dy=0&id=p15218233755&a=236108789 We traded the flag here in silver in August and made a little profit.  We remarked on it at the time.  The power bar at the end of the flag faked us out and we were in then out.  We thought all of the activity suspicious, though failure to challenge the old high should […]

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Bear baiting and naked mud wrestling…

Posted on Dec 16, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=5&mn=0&dy=0&id=p54002857514&a=234104255 Sometimes we are amazed at what the analytical community (and talking heads, and nattering nabobs and beauty commentators) misses — as in this picture which shows prices bouncing off the most important trendline on the chart.  From that critical moment in 2009 when the parachute blossomed and the market stopped its freefall.  This is, […]

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Finally, movement!

Posted on Dec 11, 2012 by .

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http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p33682367285&a=214966864 After 8 days of shifting from one foot to the other the market finally took a step.  In the right direction.  Prices today crossed the resistance horizontal line.  And while we only include it for reference prices have broken above the 50 day moving average.  Many analysts consider this significant.  We always consider it […]

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