Mole Goes Korean

I guess I might as well let you guys know now – evil Mole is heading to South Korea this Friday night. My condolences to all you Korean readers as your lovely country will never be the same. Once I’m done establishing prosperity and world peace in the entire region (by making Lil’ Kim an offer he cannot refuse) I am scheduled to return on the 15th. But I don’t think that I’ll be conscious and able to watch the NYSE session until the 16th.

They tell me that connectivity kicks serious butt down there so I will do my very best to post the occasional comment cleaner and an appraisal of the prior session before breakfast (Korea is 13 hours ahead of NYC). Obviously I don’t have all my charts and my entire setup down there so it’ll probably be quick and dirty. Of course now that I’m leaving the tape is probably going to make some major moves – it never fails – LOL 🙂

Quite frankly, I’m super excited as I always wanted to go to Korea. I’m a pretty serious tech nerd and the entire mobile and display industry down there puts the U.S. to shame. Plus I love the language, the food, as well as the people – so this is going to be a big treat for me. If there are any Korean steel rats in Seoul with tips on where to have a good time – you can reach me at admin at evilspeculator [and the dotcom stuff].

Alright – I have a little good news chart for my intrepid subs – here we go:

Yes, only one puny chart tonight – but it’s a good one. The NYSE A/D ratio painted a pretty solid – and reasonably sized – Gothic Church Tower (GTC) fractal at the close. That strongly suggests that we will have some kind of retracement here. However, I want to point out again that the fractal in itself does not predict the magnitude of the ensuing correction – the size of the fractal does not seem to matter either.

I am sure many of you will be tempted to interpret this pattern according to your book’s disposition and I strongly suggest that you resist this urge. The GTC pattern on the A/D panel is a reversal fractal that establishes favorable conditions supporting a drop. Similarly a similar pattern on the bearish D/A panel (the one on the bottom) does the opposite in establishing favorable conditions for a rally – most often after selling exhaustion has set in (i.e. a final 5th wave drop or violent drop to the downside).

The reason why I am wording my interpretation of this pattern (which I discovered btw) in such a fashion is that it has nothing to do with the fabled long term Primary {3} scenario. So take it for what it is and trade accordingly – nothing more and nothing less.

Naeil tto bobsida!

Mole