Archive for December, 2016

Short term technical state of the market…

Posted on Dec 29, 2016 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 Evaluating the volume here it is clear something is up–probably accumulation.  Nonetheless the wave which started Nov7 is now consolidating (or, less likely, reversing).  The trendline is well broken and today we saw the full effect of that.  The trendline is running through a rectangle as defined by the two horizontal lines.  This shouldn’t […]

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Xmas cheer…and the Food Bank…

Posted on Dec 16, 2016 by .

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      http://stockcharts.com/freecharts/pnf.php?c=%24INDU,PWTADANRBO[PA][D][F1!3!!!2!20] The PnF chart of the INDU pretty much expresses the market situation.  A long period of sideways chop has given way to a breakout, and the system looks for a target of 24099.  The technical base is certainly there, and if the Congress changes its recalcitrance to cooperation the economic circumstances […]

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As plain as the nose on your face…

Posted on Dec 07, 2016 by .

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http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 And with no need for a nose job.  Today’s candle is about as plain a buy signal as you could want.  Incidentally there is supposed to be a seasonal in December with good little investors being rewarded by Santa Claus.  Bah!  Humbug!  Information like this should be ignored:  the chart tells you all you need […]

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Much ado about little….

Posted on Dec 04, 2016 by .

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  http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 Withal, a desultory week to top off the holidays.  You would not think it worth comment — except– nattering talking heads are calling this the end of the “Trump rally.”  This gives us the material for a teaching moment.  One, ignore  talking heads.  Two, one could hedge here but  hedging always loses money […]

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