I thought I’d take a step back and just look at the current phase of the rally on an hourly chart. Bull or bear, as a chartist, it’s hard not to admire this.
It does not appear to be ready to quit yet. The projectile vomit of the fire breathing dinosaur…
Back on February 5th, I wrote in this report: The withholding data strongly suggests that more stimulus isn’t needed. As vaccine distribution widens, the economy…
A pitcher is worth a thousand words.
Great pitching beats good hitting.
The 5 day cycle projection is 4035-43. Almost there.
Chart.
The 6 month cycle up phase reasserted itself last week. All of the short term cycles up to 13 weeks resychronized with the 6 month…
Might there finally be some good news ahead for goldbugs?
Today’s box score, 66 -11, Bulls win. There were 64 buy signals and 13 sell signals. 2 of the sell signals were inverse ETFs. This is follow through from last weekend’s screen when there were 155 buy signals. That was the driver, despite the hiccup of the past 3 days.
If at first you don’t suck, cede, then try, try again.
You do realize don’t you, that this “top” will become a massive reverse head and shoulders saucer bottom, if they break out, right?
But don’t get too excited yet.
I’m talking about the Velocity of Money. It does not measure speed of transactions. Whoever came up with that concept was full of crap. And as usual with most crap in eConomics and finance, it became accepted as religious Truth.
Which confuses the issues. eConomists like it that way. When they confuse everybody with their nonsense, they feel powerful. So let’s cut through the crap and see the game they’re playing for what it is.
The scorecard today is 61 total signals, 27 buys, 34 sells. That’s meat grinder stuff.
Yesterday, a couple of you highlighted the fact that there are so many different opinions about what the Fed is doing and trying to achieve, it’s hard to know what to pay attention to.
It’s true there’s a lot of distraction and deception. You must keep your eye on the ball. Here’s the pitch!