Daily Archives: May 21, 2013

Charts That Don’t Move

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0521-trainGreetings from the CalTrain station in bucolic Palo Alto, California. I thought I’d have a change of venue to type up my end-of-day post, and although a video would have been a lot easier, I’m going to not to be lazy this time.

There’s not a whole hell of a lot to say about a market that goes up every single day. There are only so many instances of, “wow, this market is sure going up a lot lately” that one can utter. One item I’m rather impatiently watching is the EUR/USD, which is configured for a nice tumble, but so far refuses to do so. (more…)

The ECAT Revolution

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Well, to be entirely honest… not yet. It may take several years, probably 10 or 20 at least, before we can say adieu to today’s most used sources of energy, but there is a new kid on the block new in the energy field.

Some of you may have heard, as of lately, about the resurgence of the so called ‘cold-fusion’ and also ‘LENR’ (Low Energy Nuclear Reaction) experiments, in other words all those studies aimed to develop clean and non-radioactive energies that are somehow generated simply by exercising some sort of action on the atomic structure of certain materials (i.e. palladium, deuterium, nickel, etc.). You may remember the famous story of Pons and Fleischmann, many years ago, claiming they had obtained something in that direction, but then their theory crumbled miserably when other scientist tried to reproduce the effect in their labs. (more…)

Q2 Targets Already Reached for Major Indices

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My post of April 26th laid out a scenario for minimum and maximum target objectives to be reached by the Major Indices by the end of Q2, based on a number of assumptions.

The following is an update to report that the minimum target objectives have already been reached in 5 out of the 6 indices (Utilities, which had been on a parabolic rise, pulled back before reaching its minimum target), the maximum target was exceeded in the Nasdaq 100 and the Russell 2000, and the maximum target was nearly reached (within 12 points) on the S&P 500. (more…)

SLV Slams Into A Pole – Slippage Ahead

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Since Tim talked about precious metals, specifically the kooky idea of going long them, I thought I would do a follow-up to the volume hole entry SLV made a few days ago.  My expectation at the time was for further declines, possibly down to $17.50.  Well, Mrs. Market promptly slapped me upside the head with today’s surge across everything precious of the metal sort.  I was stung enough to return to the chart and see what near-term outlook presented itself. (more…)

Weekly Upper Bollinger Band Punches

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I was saying last week that punches well above the weekly upper bollinger band were a rare event, and I’ve been looking more at those this morning to see what happened after previous instances. Since the start of 2006 I have only found two instances of this and these were as follows:

– Q2 Start 2007 – Continued up 80 points into early Q3 first high 2007 bull market double top
– Q2 Start 2010 – Immediately preceded spring 2010 high made next two weeks

That’s not hugely helpful in this instance so I have looked further back, but here is the SPX weekly 2006-13 chart showing those punches: (more…)