Tag Archives: jan13

Coming soon to an uptrend near you…

Posted on Jan 26, 2013 by .

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0125spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

The present upwave (SPX) now amounts to 7.52% and 18 days.  Party getting old.  Any minute they will turn out the lights and take back some of the profits.  If we were trading this we would be watching extremely short term data — maybe hourly or half hourly bars, where the profit taking and short selling will show up first.

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The poisoned apple…

Posted on Jan 24, 2013 by .

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0124aapl

http://stockcharts.com/h-sc/ui?s=AAPL&p=D&yr=0&mn=6&dy=0&id=p69617565544&a=256938322

We have often commented on Apple, and have done literally dozens of studies on the stock.  Dozens.  We have so many Apple computers and phones and software we can’t count them all.  And strangely, we have never bought the stock.

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Buckle seat belts… flagged down — or up –or….

Posted on Jan 22, 2013 by .

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0122spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

 

Well, maybe it was a flag.  It’s acting more like it now.  You know — for a flag you have to have a flag pole.  that usually means a lower section, the flag itself, which ought to drift lower and the upper section, which ought to be proportional and similar to the lower section.  But this bastard variety seems to be composed of strong power bars on the upper section.  This could be good, in that flags tend to finish waves — in general, insofar as any certainty exists in these markets.  There is a sniff of parabolic move here.  That also finishes waves.

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Waiting for Godot or, Barbarians at the Gate…

Posted on Jan 16, 2013 by .

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0115iwm

http://stockcharts.com/h-sc/ui?s=IWM&p=D&yr=3&mn=0&dy=0&id=p18832448732&a=229975465

 

IWM looks to us like a promising chart.  It has just broken out from what could be a significant base.

It, like everything else, is waiting to see if the House of Representatives is going to play chicken at the debt ceiling cliff (like James Dean, rebels just because… because what we don’t know.)

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Strange charts…

Posted on Jan 10, 2013 by .

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0110spx

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864

Actually, nothing strange about this chart, except that it  pictures a rocket lift off, 64 points in two days — 90% updays.  As we often take extreme powerbars like these to be signals the bullish tint of the market is reinforced.  And the sideways drift since?  Never prediagnose a pattern the master said….but… If that is a flag forming then the target here would be 1526.  Which brings in some other considerations — that a flag could be the end of the wave.  But — plenty of time to worry about that later. Right now the way to be is long.  And we’re all in as they say.

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