Friday, September 18, 2009

Don't Overcomplicate Things H&S Retrace and "Notes"

How many lines have been drawn on "logical turn points" for this rally". And how many have just been laughed at as the market slashes through them.

In March, could any Bear picture a retrace to the Neckline on a major inde? I love those color highlight boxes in the TOS platform, they help define regions.

The dollar is rallying (a little). UUP is not doing much. That's a good ticker to keep track of the ol' buck with. It's a double long fund that tracks the dollar.

Finviz Rocks. They inspire me to do yet another rendition of my Chart of Chart with the newly created custom heatmap. This was signalling nuetral with hint of bear last week, so let's see what the new signals are. I am going to try to produce this Friday night so y'all can digest it over the weekend.

And keep in mind, all these "investments", and this "money" and "wealth" is for the most past...just paper. The best of them are "backed by the full faith of the US Government". Ouch, I think I will fund my Goldmoney account today. We did enough due diligence, they look OK.

But we all have been taught that "Head and Shoulders" means nothing. After all the great H&S got blown up, and TA is dead. TA measures the vast sum of human emotions, and well as MM manipulation. Those things haven't changed. Pictures will still get painted on the tape.

I expect one more real good blow off bottom on the dollar, to get the max people on the wrong side of the trade on equities and currencies. And just saying...but some type of event that creates fear, COULD be the real impetus for this direction change.

I will also be repositioning from interest bearing cash accounts (very weak interest) into tradable accounts, today.

1 comment:

  1. I agree about an "event" of some sort. I foresee a fear induced cascading effect of events that successively rock the markets. Right now, my guess is that it will be dollar related. All the metrics are showing some improvement but, the debt is untenable. Like the old saying, "When your outgo exceeds your income, your upkeep will be your downfall". Simple and true.


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