Northrop Grumman, shown below, has a very interesting relationship with its fan lines. For the third time in the past four years, it has thrust itself through its 50% fan line. In instances past, NOC hangs out there for a little while, then it falls down again. Make of that what you will! (more…)
I’m just posting a couple of charts today because ES looks interesting and I wanted to mention that I have added my twitter comments to the blog so that visitors can see the intraday and after-close charts I post there. (more…)
I wrote two posts over the weekend in my Brave New World series. There will be at least two more in the series but they’re very time-consuming to write so it might be a few weeks before the next one, which will most likely be looking at the big picture on bonds. The links to the series so far are below: (more…)
I’ve posted the chart for the rising wedge that broke up on SPX this year a few times with the comment that the upside target was 1965, but haven’t added much to that because I was planning to look at this pattern target in detail in this dedicated post. (more…)
I started writing a post talking about the 2011-13 rising wedge target and after a lot of work I have divided that into two posts that I will post on today and tomorrow.
This first post will lay out the theoretical basis for my analysis and is going to be a little dense. If you don’t much care for math and TA theory you can skip onto the next in the series which I will be posting tomorrow and see the short version with an explanation of the current setup and the two previous examples on SPX that I am treating as comparable. (more…)