Since I started posting on YouTube a few weeks ago we have doubled subscribers on our channel there to slightly under 500. I have calculated that if we can continue doubling subscribers every two months for the next three years then we can overtake the current biggest YouTube star, currently at about 80 million subscribers I think. I’m certain PewDiePie is watching our relentless march towards YouTube greatness with great concern.
On the video below I’m looking at the option that SPX breaks over daily middle band at the close today, something that is now looking likely. That would make a retest of the recent high at 2754.42 likely in my view, and unless we were to then see a rejection candle below the daily middle band on Monday, then we might well see continuation higher. That would suck but price makes these decisions, not analysts. Intraday Video from theartofchart.net – Update on ES, NQ and TF: (more…)
The first week of February was down hard. The second week was up hard. And now, the third week, is a total muddle. I’m not going to pretend that I’m not disappointed that things have stalled out like this, but the silver lining is that we have violated key horizontals to the upside. We might – – nowhere does it say we couldn’t – – but I obviously hope we don’t! Here are the key levels for The Russell 2000:
Strengthening bond prices. Surging oil. Strong equities. Grumble. Today is one of those “days to endure” for me. Ah, well. Here’s one idea to share: fallen angel Chipotle, which even with the recent bounce is still 60% off its peak. What we have here is a consistent series of lower lows and lower highs: the very definition of a downtrend.
All you Netflix users out there might want to know that Lincoln is finally available. Below is its most iconic scene, and one which reflects when I think the time is for a meaningful stock market downturn to commence: Now! Now! Now!