I'm going to include a picture of where I will be Saturday.
This one's for you Mary ;)
We have moved!
Tuesday, November 30, 2010
Comment cleaner
I really don't have anything I want to post at the moment as I'm using everything for the premuim newsletter so I'll just use this as a comment cleaner.
I'm going to include a picture of where I will be Saturday.
This one's for you Mary ;)
I'm going to include a picture of where I will be Saturday.
This one's for you Mary ;)
Friday, November 26, 2010
Moving
I'm going to be moving this weekend. The weekend report probably won't be out till Saturday night or Sunday.
I'm going to be busy so answering emails will be sporadic also.
I'm going to be busy so answering emails will be sporadic also.
Tuesday, November 23, 2010
Friday, November 19, 2010
HOLDING THE 200
Last week the market regained the 200 week moving average. I suspect after the brief 2 day move back below that level we will see the market now hold above this major support level.
Yesterday's rally was strong enough to form a swing low and should mark the bottom of the daily cycle. I'm still expecting the new daily cycle to move back to new highs before topping in mid to late December and rolling over into a more substantial intermediate degree correction in January.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
Yesterday's rally was strong enough to form a swing low and should mark the bottom of the daily cycle. I'm still expecting the new daily cycle to move back to new highs before topping in mid to late December and rolling over into a more substantial intermediate degree correction in January.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
Wednesday, November 17, 2010
ABOUT TO HIT THE WALL
For the duration of the dollar's secular bear market the 200 week moving average has acted as pretty solid support and resistance.
The recent two week rally has now relieved the oversold conditions and in the process the dollar is about to hit the brick wall of a declining 200 week moving average. It's already hit the intermediate down trend line.
The dollar is now short term overbought, in a strong down trend, is pushing up against solid resistance, in a secular bear market, is caught in the grip of a left translated 3 year cycle decline, and in the early stages of a dollar crisis.
I don't like the dollars chances of pushing significantly above 80.
As soon as the dollar resumes its collapse into the 3 year cycle low I expect we will see stocks and commodities resume their upward advance.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
The recent two week rally has now relieved the oversold conditions and in the process the dollar is about to hit the brick wall of a declining 200 week moving average. It's already hit the intermediate down trend line.
The dollar is now short term overbought, in a strong down trend, is pushing up against solid resistance, in a secular bear market, is caught in the grip of a left translated 3 year cycle decline, and in the early stages of a dollar crisis.
I don't like the dollars chances of pushing significantly above 80.
As soon as the dollar resumes its collapse into the 3 year cycle low I expect we will see stocks and commodities resume their upward advance.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
Tuesday, November 16, 2010
CORRECTION SET TO GAP DOWN TO SUPPORT
If the premarket weakness holds into the open the market will gap down to the 200 week moving average this morning.
In April the 200 WMA acted as resistance and turned the market down into the extended multi-month correction. Now the market has regained that important resistance level. I have my doubts that it will spend very long below that level if at all now that it has been recovered.
I've been harping all along on the fact that we needed to see an "obvious" correction before we could consider that we have a move into a daily cycle low. We now have it and it is taking the form of a bull flag on mild volume.
Usually a bull flag will break sharply higher as it is normally a bullish pattern. Unless we get a sharp break down out of the flag traders need to stay nimble as we could put in a bottom at any time. A swing low this late in the daily cycle will have high odds of marking a bottom.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
In April the 200 WMA acted as resistance and turned the market down into the extended multi-month correction. Now the market has regained that important resistance level. I have my doubts that it will spend very long below that level if at all now that it has been recovered.
I've been harping all along on the fact that we needed to see an "obvious" correction before we could consider that we have a move into a daily cycle low. We now have it and it is taking the form of a bull flag on mild volume.
Usually a bull flag will break sharply higher as it is normally a bullish pattern. Unless we get a sharp break down out of the flag traders need to stay nimble as we could put in a bottom at any time. A swing low this late in the daily cycle will have high odds of marking a bottom.
By the way, my good friend Doc, who most of you are familiar with either from his blog or from the insightful comments he posts in the SMT comments area, has offered a discounted rate for his newsletter to SMT readers. You can go here to take advantage of his offer thru Thanksgiving weekend. He might even buy me a chicken burrito or two if you sign up ;-)
http://www.thedocument.com/members/smt.cfm
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