I don’t know. Usually, my editor comes up with much better headlines than I do but today I liked mine better. Perhaps his non-technical analysis mind did not get the reference. C’est la vie (from a non-French speaker, that’s what you get).
Anyway, it looks like seasonals are shot to bits. What else will get shot down? The Kitchin cycle (4-year)? The 9-month cycle? How about the 28-day cycle Wells Wilder found for gold and based RSI around?
Tidbit – the 14-day parameter we all use because that’s what came with the software is a half cycle in Wilder’s research. Did you think the makers of Computrac and Tradecenter invented the number?
More reason to sit back and watch everyone else struggle.
What really makes me laugh is all the fundamental guys telling us the S&P is overvalued because projected earnings are 50 bucks or some such number. Do you think any of them have a clue about where a company will be earnings-wise nine months out in a financial meltdown? At least the charts are telling us how investors are putting their money where their fear and greed are.
I’ll take shaky technical tools over fundamentals in a time of crisis every time.
