Powell, Trump, and Xi We have an interesting power triangle playing out, at times a kind of a schoolyard rumble, between President Xi of China and President Trump, each attempting to outdo the other in an escalating trade war. There’s no two ways about it: Trade wars are financially destructive. Fed Chairman Jay Powell sits… Read more
Market Forecast Overview
A Period of Relative Calm? It was a very tumultuous couple of weeks in the US indices, and a potentially lucrative one, if you follow Elliott Wave structure. The wave up on Wednesday (on news) was destined for failure, which I identified, but which dropped farther than anticipated. The Pundits’ Reaction It was hilarious to… Read more
Strange Market Behaviour After a predictable week the week before, last week was the opposite: It was highly unpredictable! This week in this free blog, I’m going to provide some insight into the kind of thinking I do at the hourly (and smaller) chart level for the Trader’s Gold subscription service. I seldom share this… Read more
A Challenging Final Leg After a tumultuous week that was quite predictable (and lucrative for EW traders), on Friday, we bottomed. That’s not to say we can’t retest the Friday lows. The waves up are questionable and based on news, which is never a good thing. The prediction for August: sideways. I’ve been saying that… Read more
Fake-out at the Top After the apparent wave failure of last week, the market turned right back up this week. Tops are a process and this one is has been hanging on as the really big ones almost always do. But, the waves don’t lie. The week began with a rally into what appeared to… Read more
Friday was a Game Changer The infinity icon on the left gives you a good idea of the frustration I’m feeling about the length of time it’s taking for the US equities market to top. Friday afternoon late was a game-changer, because what was a potential ending diagonal very definitely broke to the downside, meaning… Read more
They’re All Lining Up If you were in the Chart Show this past Wednesday, you caught a really good one! I showed how virtually everything I cover is set up at inflection. There are flats of one type of another all over the place. Last weekend, I said that I expected the topping process to… Read more
The US Dollar – Bigger Picture There was an article in Zerohedge at the end of this past week that compelled me to do a long overdue technical analysis of the US Dollar Index. The article is about the work some countries have undertaken to develop and alternative to the SWIFT system, which has been… Read more
Goofy There was an article that came out at the end of the day Friday on zerohedge that I was going to comment on, but then I had defend myself when I commented a major clam analysis … and it just put me completely off.) This followed a commenter posting and promoting a competitive site… Read more
Pundits — A Good Laugh! I found myself chuckling this past week as there were so many predictions of a turn down in conjunction with the Fed announcement this past Wednesday, which didn’t have a chance in Hell of happening: Events don’t affect the market in a lasting technical manner. We were still expecting a… Read more
