Joined Apr 1, 2010
8,861 Blog Posts
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Really enjoy your posts. Gobble gobble.
Thanks, Jim!
Always bringing the “A” game, great stuff…Happy Thanks Giving
Thanks for all the recaps, I always look forward to them. Have a great Thanksgiving!
If Oct lows break – all hell breaks loose .. And we’re so very close to that happening .. scary times..
Vote is thar it’s a breakaway Gap ! well get back -up to 1190 area then break Oct lows to 950 area..8 months away
The rising wedge and negative divegence pointed out a couple weeks ago created the spank down. Oddly, however, the utes have held up well during this near term down move in the markets, and are the sole sector supporting the bull case currently. Therefore, the broad market down move is suspect, since the utes typically lead a down move. Perhaps a trip back up will occur to allow the utes to then lead a more substantial subsequent move down.
If UTIL does not lose the 50 week MA and it serves as support, that will provide equities markets the opportunity to come back up and readjust. Once UTIL loses the 50 week MA, that is a sign of major trouble in the markets. Weak markets will linger as long as price is under the 50 week MA. If the 411 level is lost today or Friday, or if the 417 level is lost next week, 11/28/11 thru 12/2/11, the broad markets will be falling dramatically with panic in the air. Thus, start your watch by focusing on price behavior in relation to the 50 week MA. If price does recover, and markets move back up over the coming days, it will provide an attractive short entry for the utilities again. This
1155 is critical for US investors,” says trader Guy Adami. 1155 represents the 50% retracement from the leg up from the low of 1068 on Oct 4th to the Oct 27 high at 1289.
Chess, enjoy your videos. I’m hoping that just as the charts looked really great and then we broke down, now when everything looks bad, we will magically climb a wall of hope. Here’s to a holiday season full of phony rumors about “solving” something that can’t be solved. Cheers.
Chess,
Love your videos. Your constant reminders to stay disciplined and not jump the market one way or another are always beneficial. Chart reading is an art and you excel at it. I notice you are charting on a Mac. Whats your set up, if you don’t mind me asking. Best to you and yours during the holiday season.
RARE FX GAP OCCURED ALSO ON AUD/USA AlSO..and as u all know it follows the S&P to tick last year !!
Had a link posted to fxcm site where there top teck..wave theroy boy was carrying on about it as it usually happened in bear markets of 78 ? was it and few 80’s
just wanted to thank you for the posts…have learned a great deal from the videoss
Happy Thanksgiving Chess!