It is well enough that people of the nation do not understand our banking and monetary system, for if they did, I believe there would be a revolution before tomorrow morning. Henry Ford

Those who surrender freedom for security will not have, nor do they deserve, either one. Benjamin Franklin

The idea that you know what is true is dangerous, for it keeps you imprisoned in the mind. It is when you do not know, that you are free to investigate. ~ Nisargadatta Maharaj

Monday 31 October 2011



Ron Walker's euro chart


Well we got our sell signal

we met the requirements in Saturday's post   http://chartramblings.blogspot.com/2011/10/pinnochio.html

and this may be playing out       http://chartramblings.blogspot.com/2011/10/blog-post_27.html

and we got evening star reversals in european indices and the euro

Evening star reversals Ftse,Dax


here is a chart from Mike Breaux's website      http://spwavetrade.blogspot.com/
The 21,34 emas have crossed bullish so the mechanical trade is to look for a pullback to buy.However the speculation is that we may have a similar situation to 2007 (Mikes red box) .Worth keeping an eye on price action wrt these ema's over the next few days.

here is my chart with a possible channel and 5 dema added.We need to break the 5 dema as initial sign at least that a turn may be starting.Friday's candle was a doji,which often marks a top.Elliott wave people are mostly calling for one more push to around 1306

good link on inflation from Zero Hedge      http://www.zerohedge.com/news/when-money-dies-author-adam-fergusson-and-james-turk-discuss-hyperinflation-past-present-and-fu

Sunday 30 October 2011


a sterling based gold ETF..........100 now solid support ?





Arm Holdings

Blue line shows likely support if there were to be a sell-off.There is an unfilled gap.

good link


and this


dual backtest?





Possible we test the recent high at 1280 before decline resumes ?  40 dma and 4x1 provide resistance. Closing above the 40 dma would be a signal to close shorts ?



the 61.8 % retracement of the 2007-9 bear is 8016


200 dma is now declining this rally looks counter-trend


Saturday 29 October 2011

cycles and the Aussie dollar

from the Nov high we ran up to another high 6 months later,then another in 3 months so the 12 month cycle seems a likely candidate for a top in which case the "risk-off" trade would most likely be triggered so a 6 month cycle top might be seen in equities.All conjecture until pattern gives us a trigger ie a reversal.The same cycles should be monitored in the euro and other currencies




QQQ chart from Gann360


I have attempted a wave count....



Corn chart continues to deteriorate


Weekly Ftse

Bears need to see Ftse retreat from the 20 points per week line.Next week this line comes in at 5744

Pinnochio ?

a reversal below the 1x1 and 200 dma is needed for a sell signal.Next wave down could be a wave 3 or C so patience,vigilance may be rewarded handsomely !



Triangle option


the decline in Barclays was 7 months,Gann's termination "death" cycle (ie 7 days,weeks,months etc)
 Now at resistance from the geometrical line


Silver....test of bearish ema's ?

I think we will pull back from here.I am very bullish longer term but not convinced this correction is finished yet


looking like an exhaustion into 50% retracement area


1937-42 analog


nice post from Slope of Hope,Serge Farra's chart


Coffee...LH in place...?

 this would be a possible bullish scenario  :

However the recent  rally does look corrective....here is the wedge on a longer term chart 


2 nice charts from Colunbia.78.6% retracement comes in around 1306


interesting chart from Slope of Hope ...


...I keep having to move these trendlines  ! 



Friday 28 October 2011

Video with Jim Rogers


Flash Crash

amusing video....sounds like a horse race !



I dont see how people can start getting excited about a new bull market (as some were yesterday) when the European charts still look so poor.I am pleased I posted on the bullish potential of the base on the Dax a few weeks ago but I must admit I didnt expect to see us reach 6400. 6400 is square of 80 and 3600 was the bottom,8100 (ish) was the top,both squares