Knocking at the door… and speculating about what’s on the other side of it…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864   After a paroxysm of fright occasioned by the emergence of the zombie Berlusconi from the political grave the market promptly recovered its senses and took back lost ground. …

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Irrational numbers, if not exuberance…

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p16768279576&a=214966864 SPX surges over 1500.  We make wild analyses.  See next chart. http://stockcharts.com/h-sc/ui?s=$INDU&p=W&yr=4&mn=0&dy=0&id=p62721365281&a=239474697 We have from time to time mentioned the rule of seven.  (edwards-magee.com/files/ruleofseven.pdf)  We ran a quick analysis…

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First rule of seven target hit.

http://stockcharts.com/h-sc/ui?s=$SPX&p=D&yr=0&mn=6&dy=0&id=p18894193176&a=214966864 We remarked, when the new high stop was tripped, some days ago, that scaling in to a hedge was not a bad idea.  That was a good idea.  The…

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