Archive for June, 2014

Two out of three (ain’t bad)

Posted on Jun 26, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$SPX&p=W&yr=5&mn=0&dy=0&id=p38441387569&a=321281297 While absent-mindedly noodlying in Oct 12 it occurred to us to run a rule of seven analysis on the SPX.    (http://www.edwards-magee.com/ggu/ruleofseven.pdf.) The market was about 1450 at the time, and our analysis set target objectives of  1634.56, 1955.3 and 2602.33.  In Oct 13 we updated the chart as the first objective was […]

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Gold, silver, Miners and how to sit still

Posted on Jun 19, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=0&mn=9&dy=0&id=p79177025382&a=255869372 Screaming signals.  Gold gaps and a power bar.  Actually we don’t think there is an explanation for this action.  Peripatetic pundits natter on about inflation, Iraq, tea party terrorists –but to us it looks technical.  Gold was pressed down and pressed down and finally it sprung (spranged?) back up and so we added […]

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Strangely quiet…

Posted on Jun 18, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=10&dy=0&id=p53999843979&a=214966864 We are told that the market has now traversed 42 days with out a move exceeding 1%.  And, furthermore that 82 weeks have passed since the Dow touched the 200 day moving average.  Naturally this makes traders nervous, as they feel they are skating on thin ice.  Given the number of black swans […]

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Presto changeo — Metamorphosis, gold bear to bull

Posted on Jun 15, 2014 by .

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    http://stockcharts.com/h-sc/ui?s=GLD&p=D&yr=2&mn=6&dy=0&id=p46848720526&a=234983962 We have been struggling with the gold chart for hours and hours trying to understand what we are seeing.  We have  been bearish on gold for some time and even made a rule of seven analysis which looked for a price of 880.  We just closed  a GLD short — minimal loss– […]

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Parabolic markets, flags flying…

Posted on Jun 09, 2014 by .

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  http://stockcharts.com/h-sc/ui?s=$INDU&p=D&yr=0&mn=7&dy=0&id=p59103334454&a=298224028 After five months of sideways markets prices broke out and are now accelerating.  It appears that the present markets are being characterized by many flags.  Here in the Dow F marks what might be a flag.  The interpretation is reinforced by patterns in the other indices: http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p90011170908&a=266691158   The SPX also displays what […]

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