Archive for July, 2015

Increasingly negative tone from tenors, sopranos, orchestra…

Posted on Jul 27, 2015 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 Since February we have observed the market grinding its way nowhere.  In this process we have seen wedges and –potentially– a head and shoulders.  Investors have apparently left the market or not re-entered.  And when the cat’s away the mice will play, and the contrarians have been having a field day — and undoubtedly […]

Continue Reading

Greased pig…

Posted on Jul 24, 2015 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 As Mark Twain said about the weather in San Francisco:  If you don’t like the weather, wait a minute. And that is the case with our alpha-beta-gamma pattern which hit contrarian selling the last four days and played hell with the pattern, and which tells us that the sideways contrarian dominated market is still […]

Continue Reading

A well known pattern…

Posted on Jul 16, 2015 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=3&dy=0&id=p76611673066&a=266398464 Readers at this point hardly need us to point out the shape of the present formation.  It is, of course, the alpha-beta-gamma-zeta formation.  And most of the time when it is recognized it means the market is recovering and buying is in order.  The waves are marked here –a-alpha, b-beta, g-gamma and z-zeta.  The […]

Continue Reading

It’s not over till it’s over…

Posted on Jul 12, 2015 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p48048650177&a=414449998 Among the many gurus, savants, yogis, yoginis, fakirs, fakers (see D. Trump)  we consult on a regular basis one has the  felicity to cut to the heart of the matter — Yogi Berra.  The struggle at this juncture is not over.  The support line at the bottom of the (potential) H&S pattern, as well […]

Continue Reading

Waiting for …Godot…or Uber, or the guys in the pom-pom shoes…

Posted on Jul 05, 2015 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=1&mn=0&dy=0&id=p05271428421&a=414952219 Everyone is waiting for the other tasseled shoe to drop except the French taxi drivers who are taking things into their own hands and thumbing their noses at the Austrian economists and creative destruction.  While investors wait the market is firmly in the hands of the traders and contrarians and likely to remain so […]

Continue Reading