Archive for August, 2012

Thurs Aug 30

30 August 2012 - 10:24 am UTC

GOLD & SILVER down leg begins.

DOW daily chart bearish megaphone wedge in progress.

Consensus returns: SPX sellers win as bearish daily chart
strengthens.

Here comes more USDX selling & SPX buying to burn the shorts…

Bearish SPX daily chart conflicting with EURUSD buying & fluctuating
expectations of central bank intervention results in mixed signals and no
consensus atm.

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Wed Aug 29

29 August 2012 - 8:00 am UTC

CAUTION: I sense another equity short cover rally this week.

Substantial SPX and EURUSD buy support returns once again…

DOW / SP500 / NASDAQ etc bearish daily charts dominate further and
sell off expected this week. ELECTION RALLY SCENARIO

DOW 8 hour & daily chart bearish diamond pattern continues.

See @GrandSupercycle for live updates.

Tues Aug 28

28 August 2012 - 7:36 am UTC

SUGAR futures daily chart bullish warning.

DOW daily chart shows bearish diamond pattern.

Despite the usual short cover spikes, SPX daily chart should retrace
this week.

WARNING substantial SPX and EURUSD buy support returns.
[see twitter for live updates]

DOW 8 hour chart shows bearish diamond pattern.
EURUSD 8 hour chart bearish warning.
GOLD and SILVER 8 hour chart bearish warning continues.

Mon Aug 27

27 August 2012 - 12:53 pm UTC

Fluctuating expectations of central bank intervention and market distortion
continue.
SPX bearish daily chart signals are now being dominated by mildly bullish
larger cycles.
SPX monthly chart shows possible inverted head and shoulders pattern
which is bullish when confirmed.
USDX weekly chart shows possible rising wedge which is bearish when
confirmed.
It does makes sense to delay the next crash until after the US elections…

Fri Aug 24

24 August 2012 - 6:51 am UTC

Equity selling expected to continue into next week.

AUDUSD daily chart gives bearish warning.

CRUDE daily chart gives bearish warning.

SPX / DOW / NASDAQ / DAX / FTSE daily choppy charts are still
breaking down.

Thurs Aug 23

23 August 2012 - 3:23 pm UTC

SPX 8 hour chart bearish warning confirmed and daily chart is breaking
down. So it should roll over soon and then presumably rescued via QE3
before the US elections. Let’s see if I’m right.

Wed Aug 22

22 August 2012 - 11:12 am UTC

Of course central bank intervention can burn more shorts and temporarily
reverse the bearish scenario…

Substantial USDX selling returns, which supports stocks and
EURUSD.

Another contrarian indicator warning of a topping market ~ AAPL sets record for most valuable company at $621b, beating Microsoft’s 1999 high. Last price $656

Risk Off Sentiment ~ SPX 8 hour bearish warning continues and FTSE daily chart gives bearish warning.

Tues Aug 21

21 August 2012 - 1:00 pm UTC

Reverts to risk off chop and SPX 8 hr bearish warning returns.

Market dislocation and lack of consensus dominates again: another reminder how unstable the markets are…

GOLD and SILVER daily and weekly chart bullish warning.

Markets are still anticipating more Bernanke / Draghi intervention : Jackson Hole Aug 30 and ECB in early Sept.

Substantial EURUSD buying and USDX selling supports stocks once again thus causing more SPX short covering rally.

Fri Aug 17

17 August 2012 - 10:31 am UTC

Reminder that imo: once bears have covered all their shorts (ie short sellers
losing money while propelling the market higher) the next Wile E. Coyote
drop can occur. Unless Bernanke/Draghi cause a reversal…

AUDUSD daily chart gives bearish warning.

AUDEUR daily chart downtrend strengthens.
AUDDGBP daily chart downtrend strengthens.
AUDCHF daily chart downtrend strengthens.
AUDSGD daily chart downtrend strengthens.
USDJPY daily chart uptrend strengthens.

Thurs Aug 16

16 August 2012 - 4:03 pm UTC

More Extend and Pretend ?
Market is still waiting for another fix via more Bernanke/Draghi
intervention:
Jackson Hole ~ August 30th
ECB ~ early September
 

USDJPY bullish daily chart continues.