good end of month video from Tim Knight
http://slopeofhope.com/2010/11/novembers-end-video.html
Tuesday, 30 November 2010
Deadly candle
Most indices posted bad (bearish) candles on the monthly (November) charts...here is Ftse100
Ftse ID chart
I posted a bearish 4 hr pitchfork chart last week.(Nov 24) We now have a bearish 3rd lower high setup.We could bounce and test the neckline but could just as easily accelerate down through the channel line
Dow Jones
The kagi chart has turned red (in AH trading) confirming a possible false break/double top scenario.The bull view is that we are in a wave 4 before new highs in Q1 and this is possible,but this setup is valid with a relatively close stop-loss
IHG
This is a UK listed hotel stock.I know little about it other than it has an interesting chart with good bear potential.Triple top on the weeklly kagi could produce a fast decline.Trended well in the last bear phase in 2008
Cable - honeymoon over ?
EMA's are crossing and we have followthrough to last week's bearish candle and rising wedge breakdown,downtrend looks like it is accelerating
Monday, 29 November 2010
Sunday, 28 November 2010
Tesco
Generally a bullish looking chart although may pullback to lower trendline,offering a good buying oppurtunity.I would guess this breaks out of the triangle some time over the next 12 months
LLoyds Bank
The Lloyds bank chart posted on Sep 10 has really worked out well...lets see if the lower trendline can hold.The rsi divergence suggests a test of 52p
Saturday, 27 November 2010
Dow Jones 3 x bear etf
We appear to have travelled 64 points (with a bit of overthrow) in 64 days ,which is the square of 8.I know Murrey math uses 64 trading day cycles a lot so it may be worth monitoring the square
Spain
Spain posted an ugly black candle this week.I noticed we had a 44 point range down,then a 22 point range (half 44) and also that the recent high was 44 ...Gann said pay attention to numbers ! I am not saying the market will decline to 22,but it is definitely on the radar screen !
Italy
I posted this chart a week ago and we have seen a bearish monthly engulfing reversal at Gann 50% down from the high,with natural Gann levels (36 and 18) operative
Ndx
If this is an ovethrow of the 2 lines then a reversal is needed swiftly,below the circled congestion area and would be a strong sell signal with stop above the high
Monthly candles
There is not much time left for markets to turn round the dangerous looking topping candles on various charts (eg look at BKX,XLF)...here is the NYSE
Aussie dollar
This is an important currency as when it rises it tends to indicate risk appetite is growing.
European contagion?
Not a pretty week in Europe,while in the US bond yields are rising and the dollar rallying...not what Ben intended! The Vix had a good move today but I find it amazing how complacent the markets have been (signalled by the low levels the Vix has been trading at)
Thursday, 25 November 2010
Banks - watch out !
A lot of agonising going on about whether we in a wave 4 or a wave B etc...I think that is missing the point and that bears are so traumatised by Fed manipulation some are even turning bullish.The key,I think is to watch Europe,China,mining stocks and....banks..........all of which are flashing warning signals that we may be approaching a big turning point
Wednesday, 24 November 2010
Goldman Sachs
Well I thought the November 1 year cycle was going to be a major low but the Fed had other ideas ! Is it going to be a major high ? Nothing like as bad as the Deutsche Bank chart though !
(annotation on this chart is wrong,it is a 2 year cycle)
(annotation on this chart is wrong,it is a 2 year cycle)
Tuesday, 23 November 2010
Ftse indices
the lower high just formed was a sell signal,coming below the Gann 100% level.It was a 2 year cycle from the low....nice !
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