The rally has made a mockery of the headline on today's commentary. At the same time, it suggests that shorts had grown complacent, since bulls have never been capable of mustering this kind of buying power. Nonetheless, we must respect the fact that the upthrust is bullishly impulsive on the hourly chart and that it […] Read More
Minor targets were exceeded so easily yesterday that we should skip the small stuff and consider bigger bearish patterns. One projects to 26.010, and we should consider it a done deal if the 27.970 midpoint support with which it is associated gives way easily. Both numbers can be bottom-fished, but more immediately we should look […] Read More
I'd be surprised if the next big rally doesn't come after late September's 1543.30 low has been broken, but we should be ready for one nonetheless. Although there's no compelling, big-picture reason to try to get long at these levels via camouflage, the felicitous tedium of retracement rallies could provide us with some very low-risk […] Read More
The chart reproduced alongside yields a worst-case low of 1.2507 for the Euro over the near- to intermediate-term. The downtrend could breach that Hidden Support and go lower, of course, but it seems unlikely that this will occur without a tradable bounce from very near the pivot. That is not an exact number that can […] Read More
No change. We hold two January 54-51 puts spreads for a debit of 0.07 and two January 53-50 puts spreads for a debit of 0.03. We’re using a 52.13 downside target for now, but the Cubes would need to go lower before we think about taking off the position for a quick profit. As noted […] Read More
Someone in the chat room appears to have filled a bid down around 1196.50, a Hidden Pivot highlighted during Monday's impromptu online session. Although I'm not going to track the position because the trend is too well developed, perhaps we can try to get short when buyers run out of steam. We haven't done much […] Read More
It’s getting a bit late for a Santa rally, but you can’t blame DaBoyz for trying – trying every night, actually, after most U.S. traders have gone to bed and there are almost no sellers to resist the stock market’s natural buoyancy in a time of unprecedented monetary easing. We’ve lost track of how many […] Read More
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The Bears’ Burden
Here’s the Set-Up…
Wednesday’s Volatility Bet
Why 30-Year Rates Are Headed to 1.64% or Even Lower
No Rest for the Wicked
Just Because a Rally Stinks…
Straddles Ahead of Freaky Friday?
As Chipotle Goes, So Goes…America?
Eclipse Fails to Spook Stocks
Fed Must Now Confront the Real Threat: Deflation