Prices teeter on edge of support….

Posted on Oct 01, 2019 by .

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http://tos.mx/mgWPUR

The rectangle that formed in August offered an obvious interpretation (uncertainty and contest) — and the breakout in early September appeared a clear buying invitation. Now the breakout wave has turned down and prices are right on the edge of support.  Extensive penetration here would cancel the signal created by the breakout.  Remember the first rule of trends– that the present trend tends to continue.

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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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One tweet values 623 points?

Posted on Aug 25, 2019 by .

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http://schrts.co/aMxqKSxY

As we were saying–the primary hazard of this market  (so far) is extreme surprise volatility.  While we have drawn a downwave trendline here we would be very chary of betting on a breakout of that line.  Rather an aggressive trade would be trading a clear breakout of the rectangle as indicated by the horizontal line.  A more conservative trade would be after a new high.  Until Trump passes from the scene market squalls can occur at any moment.

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Bizarre bungee markets…

Posted on Aug 18, 2019 by .

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A line chart which shows the volatility close to close. The recent days have been in some cases historic and bizarre.  So much so that we made a note of the daily ranges, which are to say the least, unusual:   562 (7/31),  626, 735,  632, 345, 354, 593, 536, 564, 593, 1300 (closed down about 800 (that is) 3% a historic record).  Looked at from a different perspective:

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Nasty nasty charts……

Posted on Aug 05, 2019 by .

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http://schrts.co/BqHgjEIa

With midday charts of Monday, not yet updated with the 700 point drop.  But you don’t need the real time update to see the wall (the Trump wall?) the market has hit.  True for the INDU and the SPX.  The more meaningful story is told by AMZN.

http://schrts.co/FfFwjZae

http://schrts.co/RRbQjDuh

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