Archive for January, 2013

Coming soon to an uptrend near you…

Posted on Jan 26, 2013 by .

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0125spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

The present upwave (SPX) now amounts to 7.52% and 18 days.  Party getting old.  Any minute they will turn out the lights and take back some of the profits.  If we were trading this we would be watching extremely short term data — maybe hourly or half hourly bars, where the profit taking and short selling will show up first.

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The poisoned apple…

Posted on Jan 24, 2013 by .

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0124aapl

http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=6&dy=0&id=p69617565544&a=256938322

We have often commented on Apple, and have done literally dozens of studies on the stock.  Dozens.  We have so many Apple computers and phones and software we can’t count them all.  And strangely, we have never bought the stock.

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Buckle seat belts… flagged down — or up –or….

Posted on Jan 22, 2013 by .

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0122spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

 

Well, maybe it was a flag.  It’s acting more like it now.  You know — for a flag you have to have a flag pole.  that usually means a lower section, the flag itself, which ought to drift lower and the upper section, which ought to be proportional and similar to the lower section.  But this bastard variety seems to be composed of strong power bars on the upper section.  This could be good, in that flags tend to finish waves — in general, insofar as any certainty exists in these markets.  There is a sniff of parabolic move here.  That also finishes waves.

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One and a half cheers….

Posted on Jan 21, 2013 by .

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0118spxhttp://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

The stofck market gave one and ahalf  cheers Friday when it heard that the House of Representatives was not going to blow up the country (and probably the world).  The bad news is that they kicked the debt ceiling can down the road for only three months.  So we will get to do this again shortly.  In the meantime we will probably have smooth running for awhile, and then volatility will set in again.

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Waiting for Godot or, Barbarians at the Gate…

Posted on Jan 16, 2013 by .

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0115iwm

http://stockcharts.com/h-sc/ui?s=IWM&p=D&yr=3&mn=0&dy=0&id=p18832448732&a=229975465

 

IWM looks to us like a promising chart.  It has just broken out from what could be a significant base.

It, like everything else, is waiting to see if the House of Representatives is going to play chicken at the debt ceiling cliff (like James Dean, rebels just because… because what we don’t know.)

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