Alpha, beta, gamma…

Posted on Aug 17, 2017 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 We have spoken frequently of the alpha-beta-gamma-zeta pattern (http//www.edwards-magee.com/ggu/alphabetazetawaves.pdf), and the present pattern leads us to speak of it again.  We have labeled the waves here , though they be short enough and compact enough to be called wavelets.  Today was the gamma wave (or in some notation the c wave.)  Bears and Chicken […]

Continue Reading

Who you gonna believe? the press or your lying eyes…?

Posted on Aug 03, 2017 by .

0

http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=1&mn=6&dy=0&id=p81758643050&a=424811737 Here we have the classical case of 22000 talking heads trying to call the top, but if you look at the chart it screams bull market.  And not only that , but a new milestone: 22000.  Merrill Lynch is bullish on America.  So are we. http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 The INDU is stronger than the S&P because […]

Continue Reading

Market pianissimo…

Posted on Jul 18, 2017 by .

0

http://stockcharts.com/h-sc/ui?s=%24INDU&p=D&yr=0&mn=6&dy=0&id=p44291895677 http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p38978314321 When you look at the Dow and the S&P longer charts you are struck by their bullish nature.  Anybody who skipped this market or shorted it or spent his days worrying about whether the sky was going to fall is eating his heart out.  One of the first things an investor should realize […]

Continue Reading

Don’t like the weather….?

Posted on Jun 30, 2017 by .

0

http://stockcharts.com/h-sc/ui?s=%24SPX&p=D&yr=0&mn=6&dy=0&id=p70142979615&a=266398464 Mark Twain famously said, (of weather in San Francisco) If you don’t like the weather here wait a minute.  That is still true.  Weather is insanely variable in San Francisco.  Obviously, the same can be said of the market.  If you don’t like it wait a minute.  Bears attacked the market Tuesday.  Bulls counterattacked […]

Continue Reading

Another breakout. Don’t breakout the champagne…

Posted on Jun 20, 2017 by .

0

In May prices broke out of a congestion formation.  But without a lot of enthusiasm — although building volume should support the bull case.  Now after a fifteen day  mutated rectangle prices have broken out again.  Given the general character of the market one is a less than enthused, but the message of the chart […]

Continue Reading