Published in February 27th, 2009
The S&P is at the cross-roads. If I see acceptance below 741 (basis cash) in the form of a bear bar (close no higher than 1/3 of the range from low, open no lower than 1/3 range from high), that will be enough to suggest that we have a downside breakout. The first target will […]
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Published in February 26th, 2009
As I have just been asked to post at short notice by our mentor who has been snowed under with appointments today, I thought it would be good to share this post received from President Obama .
A post from President Obama to me
@ http://awanginvest.com/?p=1122
February 26, 2009 […]
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Published in February 25th, 2009
In yesterday’s blog, ‘A Potpourri February 24‘, I drew a chart that brought this comment from StJin:
“Looking at your daily DX chart you show the boundaries as
Start:88.515
End:79.61
Both these levels appear to be slightly inside of the actual high/low. Are you placing the Start/End in a ‘best fit’ manner?”.
My reply resulted in an even better question:
“When […]
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Published in February 24th, 2009
A mixed bag tonight.
Let’s start with the S&P.
As expected we took out the 741 (basis cash) low on a day that had normal range and volume. However, we did not see at least 50% of the body of the candlestick below 741 (basis cash); so the jury is still out. We did see […]
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Published in February 24th, 2009
There are some tepid signs that this retest of the S&P lows will succeed. Once the S&P accepted prices below 804.30, I expected prices at least to dip below 741. The price action since the breach of 804.30 suggests that it will be only a dip rather than acceptance below 741. The difference is not […]
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Published in February 20th, 2009
Psychologists don’t agree with one another over many ideas but one idea they do agree on: that our experiences and natural talents produce beliefs, attitudes, values, and assessments of the future. These in turn produce automatic responses to events, contexts and people that invariably lead to a default future. (These experiences, beliefs, values etc are […]
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Published in February 20th, 2009
One mystery has held a fascination for me: why do some succeed at trading, and in life, while others, most others, fail?
Being born wealthy or having wealth is not the answer - we have seen many flit away this advantage; being educated or intelligent is not the answer - as a mentor, I have […]
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Published in February 18th, 2009
Last night I was looking for a trend day down after the market failed to fill 50% (809, basis March) of the open-gap in the first hour. Instead we saw a Normal Day with normal range and volume (Chart 1). Of what significance is this lack of a trend day?
Pete Steidlmayer used to say: […]
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Published in February 17th, 2009
In tonight’s blog, we conclude the S&P analysis.
Friday’s price action and volume have all the earmarks of a top. Figure 1 shows the price action from the Jan 6 high. You’ll notice that on Thursday we had a reversal bar with normal range (just) and normal volume. We also had a Neutral Day closing […]
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Published in February 16th, 2009
I’ll take advantage of the President’s Holiday and review the S&P.
Figure 1 shows the 12-month swing (yearly trend). This is the controlling time frame at the moment.
Figure 1 12-Month Swing
The key questions are:
Will US Stocks bounce off the Primary Buy Zone? If they do, there is a good chance we’ll see a congestion […]
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