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Archive for July, 2010
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July 30, 2010

Mexed Missages

Something potentially very ugly happened this morning – I am not sure if it’s coincidence or if this was yet another setup to punish the poor battered bears. Either this is very good – or very bad. The good news is that we’ll know very soon:

Alright – pick your poison:

Among all the whipsaw hoopla this morning some may have missed the fact that the SPX busted what I had previously counted as a first wave of a developing motive.

Now, thus far we are okay – assuming this is Soylent Blue. If it is not Blue and we breach 1120.95 then it may get very ugly for the bears – very ugly. Because the best way to count [...]

 
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July 30, 2010

Something Completely Different

Nothing really has changed on the wave count. So as to not bore you to tears with the same old story I dispense with my usual wave update and will share with you my latest creation, which admittedly is not something completely different but a merely a different outlook on something that’s right under your noses every day. Besides, it makes for a damn good excuse to post a Monty Python sketch.

I’ll reserve the ‘unexpected’ for when it’s time to quote the Spanish Inquisition. Soon, my impatient steel rats – soon![amprotect=nonmember] Charts and commentary below for anyone donning a secret decoder ring. The rest of you guys will have to [...]

 
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July 29, 2010

Getting Closer

We’re definitely getting closer but I don’t think we’re there just yet. A drop right here and now would be juicy and today’s little sell off sure makes it look like this thing is about to roll over. So is it really downhill from here or are looks deceiving?

Whatever you do – stay away from her anal probe. Then again… could be fun!

I updated my ISEE chart today after we saw some rather bullish readings throughout the day. We closed at 240 which is getting interesting – but we did see a similar spike like that plus outside the BB a few weeks ago and it was completely faded. So, I’m holding out for higher [...]

 
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July 28, 2010

Wednesday Road Map

Since it’s still the summer doldrums and many of you guys have mentally checked out I will afford myself a quick drive through update for Wednesday.

Here we go:

Basically the same picture as presented in yesterday’s update. Today looked like a bit of topping action and after an early morning spike (don’t we love those) we turned on a dime right at the 1120 mark as expected. We may see a drop towards the 1100 mark tomorrow but as of now I expect it to be contained. As of now it doesn’t feel like this thing is over and done with – lousy volume and distribution patterns notwithstanding. As ‘thespookyone’ put it a [...]

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