A reader recently asked me to give a look at the German DAX Index in terms of a possible Elliott Wave Count to see how it related to the US Equity Indexes. Here is my preferred count on the DAX Index on both the Weekly and then zooming in on the fractal Daily Count: German DAX Weekly: The DAX Elliott count is very similar to that of the S&P 500, with the exception that the topping process ...
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Consider the following lovely chart (via Barry, via Financial Philosopher). It's cute, and helpful-ish, but it also points to one of the problems with all the current chatter about how long the average recession runs. Scan it first, and my commentary follows.
New chart from McKinsey global economic sentiment survey showing that North America, surprisingly enough, is actually among the less gloomy places on the globe with respect to thinking that the economy will weaken further from here. Maybe that shouldn't have surprised me, but it did.
Given the sharp moves we've seen in the US Treasury market over the last several days, we updated our trading range charts of major international 10-year government bond yields. In each chart the blue shading represents 2 standard deviations above and below the yield's 50-day moving average. As shown below, the sharp declines have not been confined to just the US. In five of the six countries/r...
The Technical Indicator: S&P stages 9% correction in a day -- is that bullish?
Tue, Dec 2, 1:15 PM ET
The S&P 500 just staged a single-day plunge of 9%. And as reference, the U.S. markets navigated a five-year span , concluding in 2007, without a 10% correction of any kind -- not across weeks, months and certainly not in a single day. That means the U.S. markets remain in uncharted territory, and until that changes, a sideline approach remains well advised.
Filed under: Major movement, Earnings reports, Good news, Industry, Sears Holdings (SHLD), Options, Technical AnalysisSears Holdings (NASDAQ: SHLD - option chain) shares have jumped higher today even after the company announced a Q3 loss that included slowing sales and falling margins. Earnings and revenues fell, but an extension of the company' s buyback plan is boosting the shares today, alon...
I really have no insight today. I can watch the tells, but this relentless discussion of bottoming in a process that will probably take years to unwind is pretty nauseating. At least I'll admit I've got nothing, as opposed to the pundits or 'deciders' like Paulson and Bernanke who FUBAR'd the economy and now have all the answers?Illegitimi non carborundum.I sold my December VIX calls yesterday....
Here's my premise. EUR/USD is bottoming....... .....when it reverses, badly-battered crude will rally.......... .......thus I have bought DIG....... ..........and DBA....... Shout out to G.W.: <yoda voice>War does not make one great..........</yoda voice>. Twerp.
From the WSJ:Grim economic data Monday showed more pain for U.S. manufacturing and construction.The Institute for Supply Management, a key measure of U.S. manufacturing activity, said its overall index for last month moved to 36.2 from 38.9 in October and 43.5 in September. November's reading was the weakest since May 1982.Cliff Waldman, an economist for the Manufacturers Alliance/MAPI trade gr...
Adam Hewison released a video yesterday regarding Monday’s bearish move and where it occurred in context and what it might mean for the broader market - it’s definitely worth viewing to see his views and price projections. Entitled “The Dow Crash,” though it isn’t as tragic as it sounds, Hewison takes us through line, bar, and candle charts on the Daily and Weekly ...