About these ads

2 thoughts on “Ugly

  1. I certainly hope the potential inverse H&S will not pan out. We have H&S’es everywhere. That potential inverse is one. The larger one is the complex one w/ January highs as the LS, April high as Head & the recent June & July highs as RS.

    This larger one is hopefully the one which will pan out. It has several supporting evidences:
    1. RS lower than LS. Prechter mentioned if the neckline is declining, RS is less likely to reach the heights of LS.
    2. Hindenburg Omen w/ multiple confirmations.
    3. Treasury yield plunge.
    4. Increasingly worse economic reports (yeah, this doesn’t bear much weight for the past 1.5 yrs – but it may become relevant starting now)

  2. It’s a beautiful Full Moon, and Euro rising on bailout!

    From the land of WTF?

    Ireland, after just days before, steadfastly denying it needs financial help, is forced to accept help.

    Down below, please review the S&P 500, especially the Fib Fan from the Great Depression and the Big 61 Fibo, both now in play, both extremely bearish

    And the Euro overall up on that news. Very odd. Perhaps what they nicely refer to as an exhaustion top/spike. Which basically means a last minute manipulation before the real direction is set.

    NZD as a currency got hammered in Sunday action, against all others that I viewed.
    I was snaked out of my copper short, and glad I had stop in place. Somehow I got a decent fill on a gap up. Again, with Eurozone blowing up I was surprised that USD down and copper up.

    Went back in short copper at a higher price—based on the PRS kickdown shown in this blog last week.

    Scanning the futures and FX, I really don’t see anything “obvious”.

    Expiry was last Friday, and often the Monday after sees some serious moves as the market gets back to normal.

    STRATEGY: set some orders to activate either long or short based upon a move. For ES (S&P 500 futures) I will accept an 8 point move beyond the entry point as profit stop. And a 1.25 point stop as a loss.

    I get alot of periodicals. This one called Assembly is hilarious. Upset Zombie Workers, on the production line.

    And here it is, the Fib Fan from Great Depression

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Connecting to %s