Archive for May, 2015

Stop right there…

Posted on May 31, 2015 by .

0

0528spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p09524411098&a=266398464

As seen a short term trendline is broken, more significant at this moment than usual because of the precarious state of the market.  bp10 has raised the long term stop as shown to 1943.85.  We also calculated a new high (not exactly, but close enough for government work) 1995.23.

0528indu

http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=0&dy=0&id=p25278077721&a=410252756

Continue Reading

Believing the unbelievable…

Posted on May 26, 2015 by .

0

 

 

 

 

 

 

 

 

 

 

 

 

 

 

0522spx

 

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p09524411098&a=266398464

0522spxline

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=4&dy=0&id=p34003818356&a=407475521

The famous (relatively) trader Ed Seykota is supposed to have said, “I can’t believe how long it took me to believe what I was seeing.”  (Market Wizards — Schwager)

Continue Reading

Market misfires. Refuses to tip…

Posted on May 17, 2015 by .

1

0517spxwedge

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=7&dy=0&id=p97591315138&a=408600621

Offered a chance to resolve the suspense Friday the market played coy, so the issue remains unresolved.  The market principle should be remembered:  The market will do whatever it can to cause the most pain to the most people.

Continue Reading

The tipping point….

Posted on May 15, 2015 by .

0

0514spx

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p09524411098&a=266398464

Well. is this it finally?  Could be as we will see further down.  No question the SPX has made a higher high and has pierced the uppper trendline.  Given the unreliability (if not treachery) of the markets lately one must not depend on anything, and the way technicians deal with uncertainty  is waiting.  So we wait for confirmation of the penetration.

Continue Reading

Explosion occurs…as predicted

Posted on May 09, 2015 by .

0

0508spxline

 

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=4&dy=0&id=p62284334472&a=407475521

Drawing the lines through the closes allows us to get a clearer picture of what the market has been up to for the past few months — as we have remarked, more than likely an ascending triangle.  In spite of a gusher day Friday price has not exited the pattern yet and has not broken to a new high — meaning contrarians could jump on it Monday and take back those beautiful points which were so well deserved Friday.

Continue Reading

 Page 1 of 2  1  2 »