Update: Jan. 2, 3PM EST Above is the 30 minute chart of the SP500 showing the entire wave up from the final blue fourth (circle). I’ve put circles around the large fourth waves that have been causing me to label this entire wave as corrective (which meant a triangle was likely). It does not look… Read more
Market Forecast Overview
The Dilemma in the US Indices The ending diagonal that I’ve been concerned about all this week is crumbling. In ES and SPX, it looks like we’re going to morph into a contracting triangle. I see that happening across most of the major US indices. The ending diagonal has been questionable right from the third… Read more
The End of the Road I can see it from here, but it’s still a little ways off in the distance. Reaching it will be like dropping off a cliff in some respects. The world will never be the same. Relax. We’re not there yet. In fact, we have a few weeks left to go… Read more
It’s that time of year again! Time for a feel-good rally, just in case, you haven’t had enough “feel good!” Happy holidays! Reality lies just under the surface, however. We have one of the most persistent rallies in history that’s coming to an end. We’ve been stalking a short entry for awhile now, but it isn’t… Read more
Teetering Get Ready! US indices and Oil are setting up for a final top and currencies, for the most part, are going to drop a bit to accommodate them. In the currency pair world, we’re a bit of a mess this weekend, with non-confirmations between them. EURUSD has already turned the corner and in the… Read more
On Being Bearish (and personal attacks) I seem to get pulled back into the question of decency on this site, which I honestly find to be a huge distraction, and keeps pushing me to do what I’ve been told is the intelligent decision and shut down the comments area of the free blog. But while… Read more
The Last Spike The “Last Spike” refers to the culmination of the building of Canada’s national railroad right across the country. It united the country by making travel across it infinitely easier than it ever had been before. The development of the railroad business led to an economic boom in both the US and Canada… Read more
We’re at market top. It’s about time to give this market last rites. It’s time for this market to get its affairs in order. This bull is terminal! However, in this market (as in just about all markets), major tops are “a process.” As I’ve been saying for over two years now, the financial world as we… Read more
Ahhh … another weekend of obsessing over this impending US market top. My focus has primarily been on the apparent non-confirmation between the currency pairs (including the US Dollar) and the imminent turn down of the US indices. I’m expecting a top in ES/SPX and their peers at the beginning of this week. Non-Confirmation (Update)… Read more
Non-Confirmation The principle of confirmation is one of the common themes running throughout the entire subject of market analysis, and is used in conjunction with its counterpart—divergence. Confirmation refers to the comparison of all technical signals and indicators to ensure that most of those indicators are pointing in the same direction and are confirming one… Read more
