![Potential Cyclical High In Place for SPX Relative to Crude](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-30-Ratio-SPX-vs.-Crude-with-Crude-Weekly.png?resize=150%2C150)
Potential Cyclical High In Place for SPX Relative to Crude
The chart below shows the long-term ratio of the SPX vs. crude. The pattern is well-defined in that it develops a large left shoulder over the course of 1985-1997 (SPX out-performance), followed by a distinct head from 1997-2000 (acceleration of…...
![SPX Close > 2,050 in October Would Be Bullish: Part 2](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-28-SPX-Close-Greater-than-12-mo-MA-after-Two-Mo-Below-Subsequent-Trading-Paths-Daily.png?resize=150%2C150)
SPX Close > 2,050 in October Would Be Bullish: Part 2
Last week we put some work together detailing why a close above 2,050 for the SPX in October would be bullish for forward returns across six months and up to a year. That logic was straightforward enough that we won’t recapitulate…...
![This Stock is Successfully Re-Testing a Previous Bullish Break-Out](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-28-IPGP-Weekly.png?resize=150%2C150)
This Stock is Successfully Re-Testing a Previous Bullish Break-Out
On 2/23/15 in this post we highlighted the very bullish chart pattern on IPGP and suggested initiating a long in the name. At the time of the latter post we noted the name was over-extended following its break-out from a…...
![1998 Redux for Crude?](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-27-Crude-Large-Sell-Offs-of-Oct-97-Apr-99-vs.-Jun-14-Current-Analog-Daily.png?resize=150%2C150)
1998 Redux for Crude?
In these two posts here and here we discussed 1998 as a potential outcome to Aug/Sep’s global VOL in equities whereby strong pivots higher could result in additional, sustained upside to the long-term bull cycle that’s been intact since 2009 (or…...
![Duration & Size Matter: Part 2 (And Why the Revenant May Truly be Dead)](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-23-SPX-Five-Largest-Magnitude-Duration-Rallies-in-History-Daily.png?resize=150%2C150)
Duration & Size Matter: Part 2 (And Why the Revenant May Truly be Dead)
Nearly 18 months ago, on 5/9/14, we noted the SPX had gone 652 days and had rallied 72% without at least a 10% correction, with that stretch dating back to the summer/fall 2011 mini-crash lows. We went on to note…...
![SPX Close > 2,050 in October Would be Bullish](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-22-SPX-Closes-Above-12-mo-MA-after-Only-Two-Months-Below-Monthly.png?resize=150%2C150)
SPX Close > 2,050 in October Would be Bullish
As of today 2,050 is the SPX’s 12 mo MA. August’s sell-off and September’s continuing remnants of VOL from the previous month resulted in the SPX closing below its 12 mo MA for those two consecutive months after having closed…...
![MCD Hits Key Resistance](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-22-MCD-Weekly.png?resize=150%2C150)
MCD Hits Key Resistance
There have been some previous questions on MCD re: chart pattern and set-up, so with this morning’s gains, I figured I’d take another look and update my thoughts. In response to previous questions I’ve answered by suggesting the chart looked decent,…...
![CNH in Macro Driver Seat, Has Potential to Create Global Deflation Under PBoC Devaluation Campaign](https://i0.wp.com/www.onlypricesmatter.com/wp-content/uploads/2015/10/2015-10-19-USD-vs.-SSEC-CNH-vs.-SPX-Futures-CNH-vs.-Crude.png?resize=150%2C150)
CNH in Macro Driver Seat, Has Potential to Create Global Deflation Under PBoC Devaluation Campaign
The relationship b/t the USD and CNH increasingly appears to be the single most important global macro input factor. USD’s relevance has always been well appreciated but the closer I examine it v-a-v CNH, and China in general, the more significant…...