What ingredients go into our trading decisions? Opinions we hear in the financial media? Technical indicators that draw colorful lines on our screen? The latest forward “guidance” issued by the central bank? The next full moon or Jupiter in Leo? The AAII sentiment survey numbers? The stock picks we see on scutify.com? The Elliott wave… Continue reading Garbage in garbage out
Category: Financial Astrology
Pendulum market
Fears rise on Friday, next they ease on Monday…, a pattern we have been seeing for weeks. Like a pendulum swinging. Will it continue that way? It is quite possible. Just like last week, I remain mildly positive about the market as long as each relief rally goes a little higher than the previous one.… Continue reading Pendulum market
Bending but not breaking
Stock markets were clearly under pressure most of the week. But Friday’s rally pushed the S&P and Nasdaq into the green for the week. That’s quite remarkable given the news stream. Looks like somebody is buying. The market is bending but not breaking. Let’s have a look at the Nasdaq (click for larger image): Nasdaq… Continue reading Bending but not breaking
The next breaking point
In our most recent review of the S&P 500 we pointed out the market was at a breaking point, with all my indicators pointing down. US markets have indeed gone over the edge last week, and the rather quick drop has brought them right to the next breaking point. Here is the current S&P chart… Continue reading The next breaking point
LT wave chart for August
The LT wave chart for July did OK. It picked up a few highs and lows, also missed some. Here is the LT wave for August (click for larger image): Given yesterday’s drop in the market it could become an interesting August. The LT wave will reach a low on the 5th, followed by a… Continue reading LT wave chart for August
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