Momentum building for another trip to down "town". More TZA anyone?
We have a bounce. Waiting to see late day volume and direction.
Heading for target 1 today. This is of course, and very obviously a key level of support for the USDJPY, and markets. IWM is particularly vulnerable. We've hit this level before and bounced, so breaking this is huge, may happen today with Asia and Europe down, and the US premarket looking strongly down. Ominous. TGT 2 could translate to beyond a 2 to 3% dip,...
USDJPY and SPY inline again, after a divergence, SPY was too stretched, and is coming back to the pair, strength of currencies rule the day, at the end of the day. This has been a currency manipulated bull market, and fundamentals are way down the priority list, with MA activity ending soon, corporations finding no more ways to support stock PE levels, with...
This is the market correction that was looking for an excuse to happen. Dollar looks strong. Hope everyone loaded up on TZA like I did last week, and more yesterday. Long US dollar, EURUSD chart says pop up should be strong, EURJPY, USDJPY down. And this is a huge currency pair move, the markets should open and follow today likewise. How strong? Like I said...
So here's what I have been watching lately, for some time now actually, successfully, (and I post this only to help you, but be careful it is not always reliable) in a nutshell... EURJPY, EURUSD, USDJPY AND SPY correlate well and not so well at times. When they correlate as follows: 1). EURJPY AND USDJPY UP, EURUSD DOWN MARKETS UP. 2). EURJPY AND USDJPY...
Noticing previous gap down 2 days in a row, and what happens next typically. Some 3 days, some consolidation and then another gap down day or even two. This tapper shock, awakening moment, lets see how long it take for the initial reaction to wear off. Volume today does NOT indicate a Panic sell, so taking daily profits where I can, and waiting for a reinvest...
If we break down through, sustained, closed 101.24, and then the levels from May 21st, 100.80 then, next stop is...???
Either you believe in charts, or you don't. Time to choose.
All of us explore and play with charts, comparisons. This EURUSD wide picture sure is revealing. If history repeats, it should be obvious what happens next.
So what will the central bankers do? Do they manipulate in a new way, and we defy the truth, and go up from here, and break the classic double chart, or do we return to sanity, and the FED returns to an "art form" method of manipulation, rather than the straight right at you method which has reduced the VIXX to historic level lows. Do the FED and ECB work in...
Enter Yellen's "regulation" term, along with a sidebar of "prudential" actions possible. These take the place of hiking interest rates, why, so new and different terms used to reach the same results don't damage the market? And just in the past few days I've heard a lot more mention on "inflation" positioning. This is all about getting the Dems reellected in a...
Really do not understand why I have not seen one chart posted, or talk about this classic double top. Talking heads all saying we are heading to new highs with dips along the way, another 10%? Really? Ok, either I am really right or really, really wrong, but there is no inbetween. And that's fine, took my profits, now house money for me, but a lot of it riding...
After I posted my last chart, re July 6th, 2011, being so similar to the same time this week 2014, I realized markets will be closed July 4th, and will not open again until the 7th. Very significant, very ugly things happen when the market is closed for 3 days historically, i.e. October 29th, 1929. That extra day, if things go badly, it makes that Monday so...