Wednesday, June 23, 2010

Euro Again and Bullish Percent

Euro, its all about the Euro, they will be the first to blow up their currency.

Check the bullish percent index charts, these are generated in a mechanical process that looks at the point and figure charts, which are easily created by computer, no interpretation necessary.

Consumari Disc is up, but only because it crawled out of a manhole, same with staples.

Energy is up but it was down to 30!

Finance is struggling to find any footing, although a channel is clear and it is near the bottom, finance could pop up over the next weeks.

Healthcare is the healthiest of them all, except maybe telecom. Telecom is a joke, they only exist through monopolistic practices, customer disdain, and decreasing services. But whatever, we are chartists and those 2 charts look OK.

Technology cant get above it's 20DMA

Let me say it again TECH and FINANCE are sucking wind.

Industrial and materials are sucking wind, with materials the worst of the two. They have strong horizontal resistance and resistance from the 50DMA just overhead.

Copper, lumber, have just been pummeled last few month, but copper is still historically high.


  1. Do you see any possibility of SNP trading above 1110 in coming days?

  2. I like your views and respect it,thanks.

  3. steveo, we have a sick puppy on our hands. wait, if we include a lot of commodities and the currencies, we have a lot of sick puppies on our hands.

    new home sales at their lowest annualized rate since 1963....that was a 'surprise'. i'm betting that unemployment claims will be 'surprising' too.

    one question: who are the morons who are surprised by this stuff? do you know anyone who lives in the real world who doesn't already know what the numbers are saying...and then some?

    from a fundamental and technical standpoint, I find the blogosphere 'consensus' that we're going up to 1170 or 90 or whatever equally astonishing. well, here's to them if they're all correct, they read it better than I did, if so. still feel much more comfortable sitting short, all things considered.

  4. Perfect sign of a top...when the bears becomes bulls to be "well rounded", heck just look at the rounding top, that's enough.

    TOS update blewup my infamous SPX rounded top ellipse....those buggers.

  5. I would've gone with:

    "All TRADING involves high risk and YOU can LOSE a substantial amount of money, no matter what method you use. All trading involves high risk; past performance is not necessarily indicative of future results.

    No offer on my part with respect to the sale or purchase of any securities is intended or implied, and nothing contained herein is to be construed as a recommendation to take a position in any market.

    So while anything is possible, I'd expect monkeys to fly out of my ass if we get to1110 before we print 550."

    But then that's just me.....


  6. lol! a great response, and plenty of legal ass covering. nicely done.

    how about this as a better question: I have 25-30 years to live, god willing. do you think we'll see spx trade above 1110 before I depart this mortal coil?

    me, I tend to doubt it, but what the heck, maybe I will.

  7. well, you know, anything is possible, hehe.

  8. I will say this, I dont expect to see 1300 on the SPX till near the end of this decade....

  9. December? I better stock-up on monkey chow......

  10. I've been hearing a few complaints recently about TOS. no doubt ameritrade is 'improving' them like mad.

    call me crazy, but I think a lot of wave bloggers are making things too complicated. supercycle wave IV is corrective. it might be as simple as ABC, and there will likely be a lot of 3-3-5s and 5-3-5s. thinking every down move has to be five waves is a mistake, I think.

    anyway, my shot at what may be happening, for your amusement...

  11. No clue. SPX nor your lifespan.....

    But I'll be rooting for you!

  12. you can afford monkey chow? lucky man. we're heating up the gerbil pellets in a little mazola for breakfast....

    I've got an ultimate low down around ES 350. if that happens, 1300 will be one of those mythical numbers old traders talk about with the great-grandkids.

    as they nibble on some monkey chow....

  13. we may be getting close to a point of recognition, (SELL) or at least the point of summers in the Hamptons and staying rich, without worrying about the stock market - SELL

  14. I am on small sell, and in the Hamptons myself, (well Chicago is close enough), agreed though. And when the POR happens it will be quick!


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