Archive for May, 2015

Stop right there…

Posted on May 31, 2015 by .



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.


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Believing the unbelievable…

Posted on May 26, 2015 by .


















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)

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Market misfires. Refuses to tip…

Posted on May 17, 2015 by .



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.

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The tipping point….

Posted on May 15, 2015 by .



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.

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Explosion occurs…as predicted

Posted on May 09, 2015 by .



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.

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