Ratio of the DJ Food Retail & Wholesaler Index vs. SPX is plotted below on the far left. It’s done nothing but travel from upper left to lower right of the chart for 20 years. In other words, stocks in…...
If support line (1) can’t hold, the next stop is 35% lower at line (2) support. Big crossroads for not only this stock, but the group. If the industry bellwether can’t hold here, the weaker ones won’t either. On the…
We plot the SPX and Dow in three charts below. In the weekly SPX chart on the far left, note the massive ascending wedge pattern b/t lines (1) and (2) – line (1) runs to the 1987 top and line…
Wanted to update this evolving short set-up with three charts. Each has a similar conclusion and when triangulated, suggests intermediate-term downside of ~25%. Such downside can be captured via a GDX short, via DUST, a 3x inverse ETF on gold…...
Our view is that the Nikkei has out-performed so much since later 2012 because of a technical set-up that was in place in the chart below. In that set-up the ratio of the SPX vs. Nikkei hit material long-term resistance…
Last week the Nasdaq closed at 3,194. This marked a 12 year high. The index hadn’t notched a 12 year high in 674 weeks, or nearly 13 years. What’s that mean in the context of history? Well, because the Nasdaq…...
The pattern on the stock below is one of the more compelling we’ve seen in a very long time. It’s a bullish ascending triangle pattern and has formed for over a decade, going back to 2001. If one compares it…
Another relative performance-based post. The chart below highlights the ratio of the DJ Leisure Goods Index vs SPX and its attempt to break out from a decade-plus descending triangle pattern. Though such patterns are typically bearish, I’m inclined to believe…...
Forgive me for continuing to focus so much attention on the PM space. However, I do tend to think it currently offers very solid risk/reward set-ups and more importantly, the opportunity to make some money on the short side in…...
CUB is sitting on channel support line (1). Also caught in a flag pattern formed by that line and the blue line. Last two times it’s been at channel support and has formed a flag pattern (A and B) and…...