Archive for June, 2015

Ominous chart…

Posted on Jun 30, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 If you’re looking for trouble you might have found it.  We will belabor the obvious by pointing out the negative aspects of this chart:  Possible (maybe even probable) head and shoulders; Neckline penetration reacting to Greek tragedy; Penetration of mar09 trendline (!!). http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=7&mn=0&dy=0&id=p29060750188&a=414449998 As we have said repeatedly bad things happen when long term […]

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More and bigger questions…

Posted on Jun 25, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p96995943835&a=413887823 It is a characteristic of prices at  tops to do two things:  drift sideways and break short term trendlines.  Here a trendline from feb15 and a longer and more significant trendline from oct14 are broken. Here we begin to see some shape to the market.  And it is not pretty.  Without too much contortion […]

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Questions, questions, questions….

Posted on Jun 21, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 A promising zeta wave was interrupted Friday by contrarian selling.  Not a very favorable omen, since next week is according to tradition  a down week.  But the situation is one of questions, not answers.  The answers may be forthcoming next week.  Of note, volume was notably heavy as the chart shows.  These heavy volume […]

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Z wave underway?

Posted on Jun 17, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 It appears that the gamma wave was arrested 3 days ago by the long range day which threatened to blow the market away, then recovered over half the range by day’s end.  This is a bullish event.  And kicks off what appears to be the zeta wave.  Today, in keeping with the contrarian controlled […]

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The picture crystalizes… and an alpha beta gamma patern appears…

Posted on Jun 15, 2015 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=9&dy=0&id=p70901721466&a=266398464 We now have a recognizable pattern in the SPX.  It is the alpha-beta-gamma pattern. (http://www.edwards-magee.com/ggu/alphabetazetawaves.pdf)  A close-up: http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=9&dy=0&id=p70901721466&a=266398464 One could quibble with the marking of the waves here.  Perhaps the first upthrust after “a” is the b marker, but as marked seems more likely and is easier to analyze. If this is accurate the […]

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