The Dollar Index looks set to pop above 80, an event that would have dramatic implications for the dollar carry-trade. I will write at greater length about this later in the week, but for now you should check out the DXY tout and the chart that accompanies it, since it shows how all hell might […] Read More
My technically bullish outlook for the dollar is none the worse for late November's swoon. That swoon, incidentally, bottomed to-the-tick at the p midpoint resistance-cum-support of the pattern shown. Its 'D sibling lies at 81.11, which if achieved would challenge key highs made a year ago. I will have more to say about this in […] Read More
A Hidden Pivot support at 30.520 remains my minimum downside target for the near term. As suggested here earlier, you can bottom-fish there either via camouflage or with the tightest stop-loss you can abide. Keep in mind that the 28.425 target of a larger pattern identified here a while back is still very much in […] Read More
Gold was getting smacked late Monday night, slightly lengthening the impulse leg that had formed earlier in the day on the hourly chart. A downside target at 1633.10 that I've billboarded and drum-rolled here looms as a very important number, since a decisive penetration would put its 'D' sibling at 1459.40 in play. How decisive? […] Read More
We hold two Jan 54 puts and two Jan 53 puts whose cost basis has been profit-adjusted downward to, respectively, 0.76 and 0.57. I've suggested shorting December 54 and 53 monthly puts against them for the same price, yielding risk-free calendar spreads, and that's what we will do officially. We may try something else if […] Read More
The futures were wafting toward a presumptive Hidden Pivot rally target at 1241.50 Monday night, but a bigger picture implied a bull trap in gestation. That's because Monday's downdraft was impulsive on the hourly chart (see inset), but the E-Minis would nonetheless become a speculative buy at either the 'p' or 'D' hidden supports shown. […] Read More
[The commentary below elicited quite a response, so I'm letting it run for a second day. Wednesday's commentary will feature two very important trading tips for permabears who have been trying for years without success to short the elusive Mother of All Tops. If you're interested in learning the "parlor trick" that we used on […] Read More
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