And what it is isn’t pretty at all. He said he’s disappointed at how things are moving along and expects recent weakness to persist for a while longer than he’d like it to. When the fed makes a statement like...
Read MoreThe stock market indices had an up-day today, but the sharp afternoon sell-off took them way off the earlier sharp highs, and only a bounce in the last 15 minutes managed to keep them from giving it all back. The day started out...
Read MoreAbout six sessions ago, when spot gold was climbing towards its May-July resistance line ($1551), and EUR/USD was pressing lower towards its May-July support line (1.4170/80), I made a judgement call: I decided to buy the euro...
Read MoreThe stock market indices had an even tougher session today. They were mixed near the opening, backed and filled for most of the session, had an afternoon rally to new highs for the day, and then rolled over to the lows for the...
Read MoreMy hourly pattern work in nearby NYMEX crude oil futures indicates that the structure of the decline from the July 7 high at 99.42 into this morning’s low at 93.55 exhibits a completed corrective leg. If accurate this also...
Read MoreThis week started off on an extremely negative note with pre-market futures down sharply. The stock market indices gapped lower, had an initial bounce, but that was about the best that could be said for the day. They came down...
Read MoreWhen a market needs to sell it will sell. You had the combination of overbought stochastics, overbought RSI’s, and overbought MACD’s on all the daily charts. In addition, you also had overbought 60-minute charts...
Read MorePurely from a technical perspective, my pattern work in JP Morgan (JPM) has been arguing that the late-June upmove from 39.20 to 41.72 represented the end of a major correction off of the Feb 16 high at 48.36 and the start of a...
Read MoreThe stock market enjoyed a winning week to be sure, although the economy suffered a knockout on the losing side. The Jobs Report, which came out today, was supposed to show job growth of 125,000 jobs. The number came in at only...
Read MoreThe powerful advance in Mosaic (MOS) hit an air-pocket Friday morning, but recovered entirely from its 3.7% morning plunge. Mosaic’s intraday form leads me to conclude the stock ended a minor pullback and has started a new...
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