The 8.6 year global cycle model of Marty Armstrong nailed almost perfectly the exact top in the IYR real estate index in February 2007. The exact date was February 25th, 2007. I find it quite fascinating that his 8.6 year cycle model nailed the exact turn in the real estate market and yet it appears … Read more
The Nasdaq Composite appears to be on a mission for 2850 to 2900 range, possibly in blow off or parabolic fashion. The nasdaq today did a key reversal hammer after a several week consolidation and could imply a big move up that kicks off tomorrow. I am considering the possibility that the nasdaq will ‘run’ … Read more
Today the sp500 finished creating its January Monthly price candlestick. The January candlestick finished with an up close and without having created any bottoming tail. A medium to smallish size topping tail was created on the January candlestick by the end of the month. The market was able to evade the creating of a bearish … Read more
A comment poster recently asked me to take a look at ARMH stock for some clues as to whether it was in a good buy zone. I indicated that ARMH was probably overextended and not at a good risk reward entry point. Sure enough a few days later the stock shot up from 21 to … Read more
Based on the weekly DJIA chart we can see that the DJIA has formed a minor weekly topping tail right at previous key shelf resistance. This should be an important clue that the market is ready for a reversal from this supply area. I think it is still possible we could test the 52 week … Read more
The sp500 today reversed a good portion of the losses today and at first appearance appears to have saved itself from any potential downside damage next week. However the daily MACD is at a bearish crossover point and there exists a triple bearish divergence between the MACD histogram and the sp500 of the past few … Read more
The Dow Jones Transportation Average is a great example of the type of market we are dealing with now. We are certainly not dealing with a volatile trading range type market. Quite the opposite. We have a market that is trending higher in persistent trend fashion and relieving overbought conditions by going sideways. Looking carefully … Read more
After looking at the yearly price chart of the sp500 I decided that 1470 is a much better target than 1550. At this point I would think it quite foolish to target 1550 based on how the yearly chart looks. It just would not be worth the risk given the significance of the potential overhead … Read more
The sp500 today barely made much ground but still held recent levels which in my opinion should be treated as a bullish sign, especially after the shooting star reversal of 2 days ago. The long side continues to look like the right side to me and I do not expect to change my opinion for … Read more
The market’s reaction today to the jobs report was pretty much a non event. The lack of heavy reaction to the downside is quite telling and the strength continues to be notable. The market appears to be on ‘auto pilot’ into the end of the year. It almost seems too easy to presume that the … Read more