Oil is considerably higher today, as geopolitical tensions continue, and despite despite yesterday’s larger-than-expected inventory build in oil and gasoline, and unseasonably warm weather across much of the nation....
Read MoreThe bears will make a strong argument that the consolidation is more like churning at key resistance. The bulls will tell you that the market is holding very well at the breakout point, although the S&P 500 is still thirty...
Read MoreThe good news is that the SPDR Gold Shares (NYSE: GLD) has carved out an up-leg off of its Dec 29 low at 148.27 into today’s high at 160.05 that exhibits very bullish form. This along with my 5.5-month cycle low last month...
Read MoreYesterday’s plunge in Amazon (AMZN) changed my perception of the strength of the rally off of the Dec 29 low at 166.97. As of this moment, my pattern work argues that a complex corrective counter-trend rally is in progress...
Read MoreAren’t we all! If this continues for too much longer we may all lose our collective minds. It’s almost too painful to wake up, and deal with this every single day. If this was a short-term pattern for just a few...
Read MoreIncreasingly, my near-term work is “warning” me that the correction in NYMEX crude oil from its Jan 4 high at 103.74 likely ended at this morning’s pre-market low at 100.83. A climb above 102.05/15 will confirm...
Read MoreThe story is definitely an old one. A boring one at that. Push and pull, and then some more push and pull with both sides seemingly exhausting, themselves. While they catch their breath, they realize that they’ve done...
Read MoreAfter two hours of trading, let’s notice that although the e-mini S&P 500 declined 14 points off its reaction spike-high after the Jobs Report, the weakness did NOT violate last evening’s pullback low at 1266.75,...
Read MoreMy pattern and momentum work argue strongly that Amazon (AMZN) completed a major corrective process at its Dec 29 low at 16.97 off of its Sep 20 high at 244.30. All of the action off of last week’s low at 166.97 represents...
Read MoreThe market is set up to move higher. It doesn’t mean it has to happen as planned, because, let’s face it, folks, both the bulls and the bears have failed miserably in getting things done when they had their chances....
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