Lee Adler

The V’s Have It

The market’s rally kept it in a V shaped rebound channel today. This report shows the levels it would need to break to end the meltup, and what the targets should be if it remains intact.

Initial Claims Stay At Bubble Record Lows, Is This Time Different?

Initial Claims and Stock Prices- Click to enlarge

The headline, fictional, seasonally adjusted number for initial unemployment claims came in at 283,000, very close to the Wall Street conomist crowd consensus guess of 285,000. That was a non event. The actual, not seasonally finagled numbers, which the Wall Street captured media ignores, shows claims continuing at all time record levels on the basis of claims per…

When In Doubt, Punt

The market finally pulled back on Wednesday. A review of ETF sector charts shows that many of them pulled back from resistance, which leaves doubt whether the rally was a reaction rally or the start of something bigger on the upside. There is some evidence that suggests what it is.

Gold At A Fulcrum

A lot is riding on gold’s price action today. It was at a convergence of key lines of support and resistance. The mini smash this morning just broke a short term uptrend line. Recovery is still possible by the end of today, but if it does not happen, the effect on the short term trend…

Panic! Locked Out!

Cycle screening measures screamed higher along with the market averages. The market is so thin and the move so strong will it even provide the luxury of allowing anyone in on a pullback or will bulls who have been frozen out, panic, driving the market up even faster?