With the E-Mini S&Ps and April Gold both somewhat lower Sunday, it would appear that they have been resynchronizing. My outlook for both is bullish, although it looks like they could use a day or two of rest before attempting another leg up […] Read More
The news media have gotten revved up about a possible pre-emptive strike by Israel on Iran's A-bomb facilities, but if it were imminent crude would be warning us by moving higher rather than lower (just as it did, mysteriously, two months before the U.S. invasion of Iraq). So that we can tune out the hysterical […] Read More
Look for the correction to bring SLW down to at least 35.59. the Hidden Pivot midpoint of the pattern shown. You can try bottom-fishing there with caution, but bear in mind that if the support is breached by more than about 4-5 cents, the futures would be signaling further vulnerability down to at least 34.83, […] Read More
Friday's downdraft was impulsively bearish, but the good news is that sellers needed a rally and a running start to breach the required two prior lows. Also, their follow-up push failed by two ticks to reach the 33.455 midpoint support. This is sketchy evidence on wish to base a bullish outlook for the near term, […] Read More
Friday's upthrust cleared an important peak at 1763.00 from December 8, refreshing the bullish impulsiveness of the daily chart. My hunch is that it will take another day or two of consolidation before the futures are ready to roll again. However, because all three price points of the rally pattern we'd use to get long […] Read More
Friday's buying spree was robustly impulsive on the daily chart, surpassing no fewer than one internal and two external peaks. This all but guarantees that the S&Ps will eventually push above the highs of last spring and early summer. Notice that the rally did not take out the topmost of them at 1344.50. This could […] Read More
As last week ended, one might have believed Wall Street investors had just about everything wrong. Stocks were up sharply on bullish payroll news that flatly contradicted something every American knows – i.e., that the Great Recession is still very much with us; T-bonds were getting whacked on the flimsy assumption that the economy is […] Read More
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