TRENDING
I’m going to come right to the point today – as things are unfolding rather quickly I am afraid that my setups may not stay in place for long. Before we get to our Monday blue plate specials let’s take a quick look at my SPX P&F chart which looks primed to the hilt:
My subs saw this chart yesterday with quite a bit more details on various support clusters. In essence 1313 is an important inflection point – if breached it will most likely lead us much lower.
The spoos show us a last kiss goodbye to our current NLSL – unfortunately we do have support looming in the near vicinity. However, I think that a breach of SPX 1310 [...]
Valencia was hosting the Formula 1 today and although I didn’t make it to the beach it was very exciting to watch Fernando Alonso score a sensational victory for Ferrari. Also glad to see Schumacher get to the podium after his comeback. And if that wasn’t enough reason for those Españolas to keep me up at night: Spain also scored a clear win against France and it looks like they’ll make it to the Euro Cup playoffs. Viva España!
Of course if you live in the United States chances are you don’t even know what the Euro Cup is or why you should be excited about it. Having lived on both sides of the Atlantic this was always a big mystery to me as even South [...]
It’s been a typical post-squeeze sideways day – and I know how much you all love those. Just kidding – I’m actually glad I had a bunch of errands to run today as I would have been bored out of my mind. Surprisingly however, if you look deeper there are pretty nice setups to be had. Since you all have been suffering I’ll make this a Friday Freebie to cheer you up – so leeches everywhere – rejoice! 😉
Let’s cover the obligatory stuff first. NO, we are not having a VIX buy signal – it died today as we won’t be finishing above yesterday’s close (unless all hell breaks loose in the next hour or [...]
Well, we didn’t get our VIX sell signal yesterday but let the record state that evil rat ninja strike team (i.e. my esteemed readers) were well prepared for a possible correction near the 100-day SMA. That’s right – we don’t need no stinkin’ VIX signals! The 100-day served as a brick wall as suggested yesterday – downgrade news today be damned.
Did we predict the inexorability of a steep drop from right there? Of course not – that would be a pompous claim and not in line with how we roll here. But it comes to show that simple technical analysis always always trumps trading the news.
For the considerate [...]
Blast Off
