Sunday, 30 June 2013
S&P
this is a close up of the SPX weekly chart I posted on Friday.We closed below the 1612.5 resistance level and had a LL and LH on the week,so the weekly downtrend is intact
here is the full chart
here is the daily chart.I would be on the watch for a spike higher to fill the gap then reverse,especially as we might see a holiday "pop".The blue angle is important resistance
here is the full chart
here is the daily chart.I would be on the watch for a spike higher to fill the gap then reverse,especially as we might see a holiday "pop".The blue angle is important resistance
Friday, 28 June 2013
I haven't commented on gold's recent falls,which are quite frankly astounding.One can read about the conspiracy theories (like the interesting article yesterday by Jesse's Cafe) but frankly I dont want to get drawn into that emotional quagmire :-)
Luckily I was cautious just from looking at the charts and haven't recommended a buy for some time (the last setup failed and I had noted the bearish weekly chart) I did believe that physical prices were not following paper down but now some are saying this is not the case.I do believe gold will recover strongly and make new highs in the next 2-3 years but there is no technical evidence for that currently,it is a macro view because I dont believe we are anywhere near the end of Central banks printing money
I thought this was a good article
http://traderdannorcini.blogspot.co.uk/2013/06/gold-snowballing-lower.html
Luckily I was cautious just from looking at the charts and haven't recommended a buy for some time (the last setup failed and I had noted the bearish weekly chart) I did believe that physical prices were not following paper down but now some are saying this is not the case.I do believe gold will recover strongly and make new highs in the next 2-3 years but there is no technical evidence for that currently,it is a macro view because I dont believe we are anywhere near the end of Central banks printing money
I thought this was a good article
http://traderdannorcini.blogspot.co.uk/2013/06/gold-snowballing-lower.html
here are the weekly Gann angles and 2 big Gann resistance levels figured off the 2 major lows in this bull campaign
The declining 2x1 is in charge until it isn't
1515 is 50% retracement....a strong bull will stay above this.The angle support is 1498 and rising 5 pts every week.I'm leaning toward a fast move down to 1500-20 area if we get confirmation of a 3rd LH on the daily chart
The declining 2x1 is in charge until it isn't
1515 is 50% retracement....a strong bull will stay above this.The angle support is 1498 and rising 5 pts every week.I'm leaning toward a fast move down to 1500-20 area if we get confirmation of a 3rd LH on the daily chart
Thursday, 27 June 2013
SWHC
someone asked me where to put your stop if you are long this stock.First I am not a licensed investment advisor but speaking from a purely technical perspective I would operate from the assumption that we have gapped up out of a base formation and that it "should" break upwards and will be supported by the 20 amd 40 dma so you could trail a stop under one of the moving aves depending on your risk tolerance. I would probably abort the bullish view if the lower (upward sloping trendline) broke
Gann Lessons
http://www.mav7.com/lessons-in-gann/
Some good stuff from Market Analyst. Not sure why so much of the Gann stuff comes out of Australia,but good on the Ozzies :-)
Some good stuff from Market Analyst. Not sure why so much of the Gann stuff comes out of Australia,but good on the Ozzies :-)
Wednesday, 26 June 2013
http://www.testosteronepit.com/home/2013/6/25/the-smart-money-dumps-everything-thats-not-nailed-down.html
So here’s something that has turned out to be prescient – from David Stockman’s The Great Deformation, Chapter 23. The stock market in 2007 “had been taken over by white-collar financial hoodlums who needed a trading fix every day” but then were “asserting an entitlement” to policy actions “to keep the casino running at full tilt,” he wrote. The Fed stepped in, and by “the second week of October the market was up 10 percent, enabling the S&P 500 to reach its historic peak of 1,565....” On Monday, its intraday low was 1,561. Read.... David Stockman: When The Fed Capitulated To Financial Hoodlums
So here’s something that has turned out to be prescient – from David Stockman’s The Great Deformation, Chapter 23. The stock market in 2007 “had been taken over by white-collar financial hoodlums who needed a trading fix every day” but then were “asserting an entitlement” to policy actions “to keep the casino running at full tilt,” he wrote. The Fed stepped in, and by “the second week of October the market was up 10 percent, enabling the S&P 500 to reach its historic peak of 1,565....” On Monday, its intraday low was 1,561. Read.... David Stockman: When The Fed Capitulated To Financial Hoodlums
Tuesday, 25 June 2013
Monday, 24 June 2013
Sunday, 23 June 2013
Saturday, 22 June 2013
Michael Hastings
http://armstrongeconomics.com/2013/06/22/michael-hastings-coincidence-or-conspiracy/
SPX weekly Gann angles and candle patterns
last weeks candle was a bearish engulfing.Last weeks high looks like a good stop for swing trades
from a Gann perspective it would be unusual if this was "the top" as the last range was bigger than the preceeding one (normally tops are preceded by contracting ranges). Does this mean Nenner's call was wrong ?
from a Gann perspective it would be unusual if this was "the top" as the last range was bigger than the preceeding one (normally tops are preceded by contracting ranges). Does this mean Nenner's call was wrong ?
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