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

Tuesday 30 April 2013

Ftse 2 hr chart


Fidelity Chinese Special Sits

Anthony Bolton's fund which got off to a poor start. Are things taking a turn for the better ? Watching to see if this move down is corrective to the powerful thrust off the double bottom at 70. My intuitive feeling is that this chart looks very bullish

A lot of the wavers have been bearish for a long time,and forced back to the drawing board by all the money-printing. Are they finally going to have their moment ?   (chart by Daneric)

lets see if the double top holds

upward sloping flag ?

Monday 29 April 2013


Sunday 28 April 2013


I had thought gold might spike down to 1488 and showed this chart a few times.In the end we had a much bigger fall and I am very much on the sidelines until the picture clears up. As I understand it physical demand remains strong and I personally dont see an imminent end to the money printing that is Central banks' default policy to the current crisis that we are still in,so I am fundamentally bullish and waiting for the technicals in the paper market to clarify the situation.At the moment they are bearish and I suspect a retest of the lows is likely,I still believe gold will trade much higher within the next few years


Upper bollinger band pierce and 50% retracement close


Dow channel with some repeating time ranges.This suggests we decline soon into a mid-late May low


HSBC gave a kicking candle buy signal a few days ago and is back above the ema's

Bernanke Appreciation Society,Annual gathering ?

(link from Jim Rickards    https://twitter.com/JamesGRickards/status/317994288988446720/photo/1)


We took out a swing high but this still looks like distribution . However ftse250 weekly looks like it could be a pennant so guard against complacency

this chart is from Korelli               http://korelli.typepad.com/blog/

I like the count because it offers a good risk/reward should the pink line break,short with a stop above the w2 high. For all the criticism of Elliott wave,this is its value,to me,that it offers good setups every now and then


Saturday 27 April 2013


The market is at resistance having found support at 7500.Next week should be key but I am looking for a reversal from the fib retracement


my thanks to Crystlz,from Dino;s blog for this link


Are the markets ever going to be allowed to fall ?  The sell setup on the CAC was textbook Gann,with a high on the March time cycles and a gap down break of a triple bottom.In any normal market this would have led to a decent fast move down....We have seen this sort of thing too many times now to believe it is anything other than blatant manipulation....eg FTSE in November,SPX in summer 2011


11.25 (25% of 45) should be major support (high was 44.86)
This  is shorter term chart with some basic murrey math levels.

Price pierced the lower bollinger band last week

Friday 26 April 2013

Thursday 25 April 2013

Gerald Celente on the Boston Siege http://www.youtube.com/watch?v=t3A_ULGlUtw&feature=player_embedded#!

Dax very critical levels here for the bear case. I am watching for  close below the 21 dema

the MACD histogram punched a positive bar,worrying for the bears.Caution is warranted

  " The Fed’s ability to print can have a longer life than one might think.  Recognizing the dollar’s vulnerability from the printing press, Washington has convinced the Japanese government to help protect the dollar by printing yen and is lobbying the ECB to print more euros.  To prevent sharp appreciation in the franc, the Swiss have had to print francs in order to absorb inflows of dollars and euros.  Indeed, the Fed’s debasement of the dollar forces other countries to print also in order to protect their export markets.  When so many countries print money, it takes the pressure off the dollar.  What it means is that so much money is being created that the final blowout will result in a world inflation.  Unless the Chinese join the printing in order to protect their export markets, China will be set to take over the reserve currency role.  (Printing a currency causes it to depreciate relative to other currencies. If all currencies are printed, there is no relative change.)

In that event, what would finance the federal budget deficit?  Now desperate, authorities might seize bank deposits, not in order to bail out bankers but to bail out the federal government.  After bank deposits are pillaged, the remaining source of wealth to be plundered would be private pensions, or what is left of them after rising domestic inflation and interest rates collapse the bond, stock, and real estate markets."

Wednesday 24 April 2013

this is updated chart from Saturday's post where I said the Dax might rally to allow the ma's to converge.

a good update from Andrea Calissano. Yesterdays move in the Dax was unexpected (by me) but the 200 dma was a support level .I want to see last week's high hold .


Tuesday 23 April 2013

http://video.cnbc.com/gallery/?video=3000162552   Jim Grant


OJ looks done ( I know I said that a couple of weeks ago !) If it was a corrective move it was a very big one


bearish descending triangle


Monday 22 April 2013

chart by Ron Walker.Lets see if the 200 pma acts as resistance


I posted this chart recently because it looked like a 3rd attempt to break through resistance.That has been confirmed,with good volume


I dont want to get into the gold and silver price manipulation/conspiracy arguments,which seem way too emotional (on both sides to me) Nevertheless I like to keep an eye on the various theories whilst ultmiately letting the chart decide.The point about premiums of physical over paper is interesting,in my view
long-term coffee chart from BreakpointTrades. We managed to nail the top on coffee,using different squares and it has since fallen over 50% !

here is BPT's chart of the softs index, DBA

Ftse setting up a 3rd lower high below the 50 dma  ?

Sunday 21 April 2013


Looks to be in a topping pattern


move down to lower BB,6 months LL ?
Charles Nenner http://www.nbcnews.com/video/cnbc/51574290#51574290

Saturday 20 April 2013


looking to sell if 1.52 breaks


It looks like a significant top is in but it is possible some "right shoulder churning" develops before the next drop.1440-60 looks like an obvious target level

The Gann angle sell signal on SPX (this is set to calendar time ie includes spaces for weekends,hols)
Gann wheel target is 1441 (360*) which is 1 pt above 1440 the 61.8% retrace


a major bear cross is coming but next week could see a small rally to allow more convergence ?

Our Gann emblem dates worked nicely

(taken from  http://www.caseyresearch.com/articles/discerning-value-information )

Friday 19 April 2013


Bullish engulfing candle forming,watch for clear break from the wedge


I showed a chart of the Tesco gap-fill a while back.Since then we completed a triple top and have started a fast move down off the 6 month cycle


http://www.youtube.com/watch?v=7VOWnnEphjI  Jeffrey Sachs lambasts the US banks

Thursday 18 April 2013

2 charts from Ron Walker