TRENDING
Alright, Evil Rat Academy is now officially in session – everyone please return to their desks – BobbyLow, stop chewing gum and blowing paper bullets at Tronacate. Tradingmon – stop that fire in the trash can!
It’s Friday and thus time for the 2nd part in our ongoing EWI sponsored series on option strategies. The following post is excerpted from the Elliott Wave International (EWI) eBook, “How to Use the Elliott Wave Principle to Improve Your Options Trading Strategies — Vertical Spreads.” EWI has agreed to make the full eBook available for free to all Evil Speculator readers until the conclusion of this series. So go ahead and download it here [...]
I’m attending a private function tonight, so I don’t have much time for a post. Can’t leave my stainless steel rats without a road map for tomorrow though. But before we get to the chart, here is a crash course on how to become a contrarian:
That’s it – now you’re ready for tomorrow’s session.
Soylent Orange gained a lot of credibility today but we are not out of the woods yet. I’m currently counting only seven waves down and we need nine for a complete motive. So I am condoning further downside, despite the short term oversold conditions right now.
It’s also possible that this is it and we are [...]
Not looking good for the bulls right now. Take a quick peek at my short term EUR/JPY chart.
Some folks (i.e. ZH) are saying that the AUD/JPY correlation is more spot on but I don’t see it – at least not yet. When it does I will start posting about it – simple. What I am seeing is that the stochastics rightfully predicted a nice run up on the EUR/JPY which was completely faded by equities – we actually pushed down and sideways.
Now the currency pair is close to rolling over and equities are already descending into base camp. The short term wave pattern on the ES futures does not satisfy the characteristics of a Minuette (2) reversal [...]
As expected today’s FMOC day was a snooze fest – which why I frankly spent my time catching up on some (charting related) chores that have mounted up. The final announcement late afternoon was good for a emotionally laden 23 second HFT spike. You could literally hear the vuvuzelas go nuts in the NYSE pits – unfortunately we reverted back to VWAP as there were no players on the field.
The ensuing silence was deafening – and remember, in the NYSE pits, nobody can you hear you scream 😉
The landscape has not changed by much but my counts have matured and I can now provide inflection points at which we know the direction we’ll be heading [...]
Market Fragility
