Archive for 'Uncategorized'

Price breaks out…

Posted on Sep 05, 2019 by .

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http://schrts.co/fuyjKHJs

The SPX jumped 23 points in a powerful exit from the long standing rectangle. (22 trading days).  Conservative investors may wait for confirmation — that would be a new high.  More aggressive traders  will buy  the breakout.   The trade may be evaluated — or criticized — as being a knee-jerk reaction to news.  Excessive volatility will continue.

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The snowball…

Posted on Apr 08, 2019 by .

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http://schrts.co/EETcHtyM

The power of this wave is illustrated here. The horizontal line is resistance and as you can see that resistance has stopped price many times.  Two reactions here mark minor and major wave highs.  The implications of this first recovery wave are great.  Technicians believe and have observed that the first wave in a new series has predictive implications –using the rule of seven  (http://www.edwards-mageee.com/ggu/ruleofseven.pdf).  This procedure generates several targets– in this case the first two are 3164 and 3434.  From the recently important level of 2800 these may be intimidating, and we do not present them as predictions or forrecasts, but as the products of the procedure.

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Take a deep breath and give thanks..

Posted on Nov 21, 2018 by .

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Every year at Thanksgiving we make a practice of donating to our local food bank.  donate.sfmfoodbank.org.  Google will give you your local food bank.

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Unruly triangles–unrelenting volatility

Posted on May 05, 2018 by .

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http://schrts.co/LjZ3YN

Here is the standard chart, and there are a number of ways to look at it.  However you look at it it is an unruly octagon shape looking for  a square hole.  Most unusual — a triangle developing off a triangle.  Another way to look at it is as a developing downwave.  However you look at it it doesn’t look inviting and the volatility during this period is definitely not inviting.  One way to deal with such unruliness is to define the borders of the formation and just stay away from the nastiness until prices clearly signal that the naked mud wrestling is over.

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