The Case for a Major SPX Top is Growing
I’ve found the trading pattern on the SPX from Oct-14 until now to be highly reminiscent of that from its topping process from Oct-99 through Aug-00. The process from Oct-99 through Aug-00 is best described by a major pivot low and immediate, strong…...
Recent Chinese Panic Could be First Clouds of Gathering Storm in Emerging Market Equities
I believe the recent panic in China might merely be the first set of clouds in what is to be a gathering storm that will hit EM equities. I say this because of the extremely bearish set up in anything EM-related that I…...
USDJPY Testing 35-Year Resistance
Below we have weekly close and monthly HLC views of USDJPY. On each we find lines (1) and (2) resistance. Line (1) is 35-year resistance for USDJPY dating back to ~1978. Combined with line (2) which runs to ~200, the…...
Set-Up for Nat Gas Appears Favorable
In the simply chart below of Nat Gas we find that it sits atop trend-line (1) support dating back to 1998. Absent a single, brief breach of this support in 2012, line (1) has acted as a solid launching pad…...
Palladium Decline Appears Set to Continue
About a month ago when palladium stood at $720 we noted in this post that it appeared to be decisively breaking multi-year (since 2010) trend-line support, per this chart. We built incrementally on our original palladium post with this one a…...
More QE Needed & Market Signals Suggest it Might be Coming
Hat-tip DC for idea of this post.. The handy chart below shows where the Fed has started and ended various QE programs and how the SPX has performed during those various campaigns. It’s cut-off is later 2013, so it fails…...