I concluded last week that the small number of signals, particularly buy signals suggested that the rally was exhausted, despite the buys having the edge. I chose not to add any charts to the list, long or short, but held on to all of the shorts that had been on the list.
That looks to have been the correct judgement.
This week, I’m adding 5 more shorts to the list.
The party rocks on. The 5 day cycle projection is 4813. Back to the highs.
If it clears that, we hunt for the top of the megaphony at 4834. Happy New Year, bulls. Bears, not so much. Wait till summer.
Meanwhile, the big picture…
Cycle screening measures screamed higher in a pattern similar to October-November 2020. That led to a breakout and long upleg. It doesn’t guarantee the same outcome here, but we need to be cognizant, and prepared for the possibility.
One of the countless canards bandied about by the mass media is how instructive January trading activity is. I disagree. Let’s take a couple of quick, simple examples. First of all, there’s this notion that there’s all kinds of pe…
We need to place the Fed’s 2021 blunder into proper context. Compound mistakes over a long period, and associated risks explode exponentially. The Federal Reserve is now 13 years into a failed QE experiment.
In other words, our economy and society have been optimized for failure.
The good people at Pfizer would like to thank you, and your government, for your support.
This time of year, investors are dumping their worst performers for what is called tax-loss harvesting. For instance, if you have amazing capital gains on, let’s say, TSLA, but you had the misfortune of buying a bunch of HOOD when they went p…
It will be a full trading day, because God knows that no one celebrates New Year’s Eve
The ES stretched support at 4760 and bounced back, but is now in the process of testing as of 6:40 AM in New York. Resistance is suggested to 4796 and 4802 around the NY open, and is well established at 4808. In between 4760 and 4808 is the great nothi…