Memories of Charts Past

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Salutations again from the concrete-cloistered depths of the Stanford Shopping Center parking garage. I’m kind of touched that so many people have emailed me, wondering about these kooky habits. Don’t worry, the wife hasn’t thrown me out, and I’m not homeless. I’m simply killing two proverbial birds with a single stone, charging my car and looking at charts for you good people. Three stones, actually, since a subset of my dog retinue gets to come out with me.

As I am typing this, the ES, RTY, and NQ are all bright green, and I’m not concerned. I’m more excited about the market than I’ve been in many months. Below I’ve got 14 ETF charts, with a few words about each in the caption area. The first 7 are free to all, and the second 7 are for my awesome paid members (all levels, from Bronze on up).

Commodities – -doomed and doomed can be!
Observe the similar nature between the domed top from early this year and the pattern we’ve just completed
A similar “echo” can be seen here with the emerging markets
The MSCI Europe is sporting an analogous pattern at an even lower level (which I interpret as weakness)
Precious metals miners have not been immune to asset weakness, and I expect lower prices from here (I bought puts early on Thursday)
Similarly, gold could be on track for $1800/ounce
This chart shows more data than the ones preceding it, with the third major reversal on small caps well underway
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