New high, new basing point…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p88150915824&a=214966864 Last week while twiddling our thumbs and indulging in occasional fits of rage at Congress -- delay the scoundrels getting out of town at Washington airport and they can…

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Restoration of order..maybe…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p53507150799&a=214966864 Frightened by the proximity of the trendline prices rebounded -- even with fake tweets bombing the market for 4 minutes.  WE now have three days of strong rebound.  The…

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Broken and breaking trendlines…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p09343555801&a=214966864 The uppermost (77 day, 12/31/12) trendline looks to be broken and the 109 day (11/16/12) is cracking.  We say looks to be because in Magee's opinion a trendline had…

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Up down, up down, up… drunken squirrels…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p34555890157&a=214966864 Back during the bungee markets of Jul-Dec 2011 We compared the markets to drunken squirrels running up and down a tree.  It is entirely possible that we are entering…

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Bear attack finally happens, out of the blue — or red if you’re thinking of China

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=9&dy=0&id=p34555890157&a=214966864 The bear attack (the REAL bear attack) we have been talking about for a week or so started on the opening today and drew blood all day long.  Much…

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